Byrna Technologies Inc. (NASDAQ:BYRN) Receives Average Recommendation of “Buy” from Analysts

Byrna Technologies Inc. (NASDAQ:BYRN) has been given a consensus rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $41.6667.

A number of research analysts have recently commented on BYRN shares. Zacks Research lowered Byrna Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Roth Mkm set a $40.00 target price on shares of Byrna Technologies and gave the company a “buy” rating in a research note on Friday, October 10th.

Byrna Technologies Price Performance

BYRN opened at $12.22 on Thursday. The stock’s 50 day moving average price is $16.93 and its 200 day moving average price is $19.35. The stock has a market cap of $277.76 million, a P/E ratio of 18.24 and a beta of 2.29. Byrna Technologies has a 12 month low of $12.15 and a 12 month high of $34.78.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYRN. Millennium Management LLC grew its holdings in Byrna Technologies by 228.0% during the third quarter. Millennium Management LLC now owns 673,138 shares of the company’s stock worth $14,917,000 after acquiring an additional 467,932 shares during the period. Invesco Ltd. bought a new position in shares of Byrna Technologies during the 2nd quarter valued at about $13,079,000. AIGH Capital Management LLC acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $6,630,000. UBS Group AG raised its holdings in shares of Byrna Technologies by 232.6% in the 3rd quarter. UBS Group AG now owns 383,356 shares of the company’s stock worth $8,495,000 after purchasing an additional 268,108 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Byrna Technologies by 621.6% during the third quarter. Alliancebernstein L.P. now owns 132,710 shares of the company’s stock valued at $2,941,000 after purchasing an additional 114,320 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

Byrna Technologies Company Profile

Byrna Technologies, Inc (NASDAQ: BYRN) designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company’s flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO₂-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.