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

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have received an average rating of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.1250.

Several analysts have issued reports on the company. Roth Mkm cut their price objective on Byrna Technologies from $26.00 to $12.50 and set a “buy” rating on the stock in a research note on Friday, April 10th. Craig Hallum lowered Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a research report on Friday, April 10th. New Street Research set a $7.50 price target on Byrna Technologies in a report on Friday, April 10th. B. Riley Financial reduced their price objective on Byrna Technologies from $31.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Texas Capital raised shares of Byrna Technologies to a “strong-buy” rating in a report on Tuesday, March 24th.

Byrna Technologies Price Performance

Shares of BYRN stock opened at $6.97 on Friday. The firm has a fifty day moving average of $5.86 and a two-hundred day moving average of $10.35. The firm has a market cap of $158.15 million, a P/E ratio of 19.36 and a beta of 1.80. Byrna Technologies has a 1-year low of $4.84 and a 1-year high of $34.30.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, April 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $29.05 million for the quarter, compared to the consensus estimate of $30.21 million. Byrna Technologies had a return on equity of 14.14% and a net margin of 7.30%.During the same period in the previous year, the business posted $0.07 EPS. On average, sell-side analysts expect that Byrna Technologies will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BYRN. Comerica Bank bought a new position in Byrna Technologies in the fourth quarter worth about $40,000. NBC Securities Inc. raised its position in shares of Byrna Technologies by 226.4% during the 4th quarter. NBC Securities Inc. now owns 2,611 shares of the company’s stock worth $44,000 after purchasing an additional 1,811 shares during the period. Russell Investments Group Ltd. raised its position in shares of Byrna Technologies by 89.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company’s stock worth $49,000 after purchasing an additional 1,047 shares during the period. Quarry LP bought a new stake in shares of Byrna Technologies in the 3rd quarter worth approximately $70,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Byrna Technologies by 178.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock worth $94,000 after purchasing an additional 1,960 shares during the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

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.