Byrna Technologies (NASDAQ:BYRN) Stock Rating Upgraded by Texas Capital

Byrna Technologies (NASDAQ:BYRN) was upgraded by equities researchers at Texas Capital to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Craig Hallum reaffirmed a “buy” rating and issued a $18.00 price target on shares of Byrna Technologies in a research note on Tuesday, March 10th. Finally, B. Riley Financial lowered their price objective on Byrna Technologies from $46.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $29.67.

Byrna Technologies Stock Performance

Byrna Technologies stock opened at $9.42 on Tuesday. The company’s fifty day moving average price is $12.77 and its 200 day moving average price is $17.10. Byrna Technologies has a 1 year low of $8.85 and a 1 year high of $34.30. The stock has a market capitalization of $213.55 million, a P/E ratio of 23.55 and a beta of 2.30.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $35.25 million during the quarter, compared to analysts’ expectations of $34.92 million. Byrna Technologies had a net margin of 8.20% and a return on equity of 16.14%. Sell-side analysts predict that Byrna Technologies will post 0.28 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connective Capital Management LLC purchased a new stake in shares of Byrna Technologies in the fourth quarter valued at approximately $650,000. Millennium Management LLC lifted its position in Byrna Technologies by 32.7% during the fourth quarter. Millennium Management LLC now owns 893,268 shares of the company’s stock worth $14,998,000 after buying an additional 220,130 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Byrna Technologies by 44.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 400,420 shares of the company’s stock worth $6,723,000 after buying an additional 122,409 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Byrna Technologies by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,304 shares of the company’s stock worth $190,000 after buying an additional 1,660 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Byrna Technologies by 2,289.8% during the fourth quarter. Russell Investments Group Ltd. now owns 52,933 shares of the company’s stock worth $889,000 after buying an additional 50,718 shares during the last quarter. 25.46% of the stock is currently owned by institutional investors and hedge funds.

About Byrna Technologies

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.