Byrna Technologies (NASDAQ:BYRN) Trading Up 7.8% – Here’s Why

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price shot up 7.8% during trading on Thursday . The stock traded as high as $28.81 and last traded at $28.56. 310,020 shares were traded during mid-day trading, a decline of 25% from the average session volume of 412,532 shares. The stock had previously closed at $26.49.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and issued a $20.00 target price on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $17.75.

Byrna Technologies Stock Performance

The business has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $18.92. The stock has a market cap of $674.61 million, a P/E ratio of 329.37 and a beta of 1.65.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. On average, sell-side analysts predict that Byrna Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BYRN. FMR LLC increased its holdings in Byrna Technologies by 47.9% during the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company’s stock valued at $28,758,000 after purchasing an additional 548,670 shares during the period. Barclays PLC raised its holdings in Byrna Technologies by 321.5% in the 3rd quarter. Barclays PLC now owns 24,719 shares of the company’s stock worth $419,000 after purchasing an additional 18,855 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Byrna Technologies by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,958 shares of the company’s stock worth $865,000 after buying an additional 2,021 shares during the period. GSA Capital Partners LLP grew its holdings in shares of Byrna Technologies by 86.6% during the 3rd quarter. GSA Capital Partners LLP now owns 59,608 shares of the company’s stock worth $1,012,000 after acquiring an additional 27,662 shares during the period. Finally, State Street Corp boosted its position in shares of Byrna Technologies by 36.9% during the third quarter. State Street Corp now owns 314,315 shares of the company’s stock valued at $5,334,000 after purchasing an additional 84,723 shares in the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

About Byrna Technologies

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.