Byrna Technologies (NASDAQ:BYRN) Trading 5.1% Higher – Still a Buy?

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price was up 5.1% during mid-day trading on Wednesday . The stock traded as high as $23.29 and last traded at $22.85. Approximately 72,690 shares were traded during trading, a decline of 78% from the average daily volume of 332,339 shares. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BYRN. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Byrna Technologies in a research note on Wednesday, October 30th. Roth Capital raised Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.75.

Byrna Technologies Trading Up 2.6 %

The company’s 50 day simple moving average is $17.63 and its 200 day simple moving average is $13.79. The stock has a market capitalization of $564.68 million, a PE ratio of 275.70 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $20.82 million. As a group, analysts predict that Byrna Technologies Inc. will post 0.19 EPS for the current year.

Insider Activity

In other news, CFO Laurilee Kearnes purchased 2,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. The trade was a 400.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lisa Wager sold 2,450 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $17.01, for a total value of $41,674.50. Following the sale, the insider now owns 224,555 shares of the company’s stock, valued at $3,819,680.55. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,424 shares of company stock valued at $183,104 in the last 90 days. 11.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC raised its stake in shares of Byrna Technologies by 1.3% in the 3rd quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after acquiring an additional 665 shares during the period. nVerses Capital LLC purchased a new position in Byrna Technologies in the third quarter valued at about $34,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Byrna Technologies by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,958 shares of the company’s stock worth $865,000 after purchasing an additional 2,021 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Byrna Technologies in the third quarter worth about $46,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Byrna Technologies by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock valued at $200,000 after buying an additional 2,976 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Company Profile

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.