Byrna Technologies (NASDAQ:BYRN) Stock Rating Raised to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Byrna Technologies (NASDAQ:BYRN) from a strong sell rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other analysts also recently issued reports on the stock. Craig Hallum reissued a “hold” rating and set a $3.50 target price on shares of Byrna Technologies in a research note on Friday. B. Riley Financial lowered their price target on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Zacks Research raised Byrna Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Roth Capital downgraded Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price objective for the company. in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Byrna Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.88.

Byrna Technologies Price Performance

Byrna Technologies stock opened at $4.52 on Friday. Byrna Technologies has a fifty-two week low of $3.16 and a fifty-two week high of $30.62. The firm’s 50 day simple moving average is $3.84 and its 200-day simple moving average is $5.24. The company has a market cap of $105.81 million, a P/E ratio of -11.30 and a beta of 1.70.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. Byrna Technologies had a negative net margin of 9.20% and a negative return on equity of 14.01%. The business had revenue of $15.30 million during the quarter, compared to the consensus estimate of $16.27 million. On average, analysts expect that Byrna Technologies will post -0.63 EPS for the current fiscal year.

Insider Activity at Byrna Technologies

In related news, Director Chris Reed purchased 8,150 shares of the company’s stock in a transaction dated Friday, July 24th. The shares were acquired at an average cost of $3.63 per share, with a total value of $29,584.50. Following the completion of the purchase, the director owned 61,720 shares of the company’s stock, valued at $224,043.60. The trade was a 15.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leonard J. Elmore acquired 10,000 shares of Byrna Technologies stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average cost of $4.64 per share, with a total value of $46,400.00. Following the transaction, the director owned 60,811 shares of the company’s stock, valued at approximately $282,163.04. The trade was a 19.68% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 71,258 shares of company stock worth $261,855 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Byrna Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC boosted its holdings in shares of Byrna Technologies by 107.0% during the 3rd quarter. Byrne Asset Management LLC now owns 22,600 shares of the company’s stock worth $79,000 after buying an additional 11,680 shares during the period. Engineers Gate Manager LP bought a new stake in Byrna Technologies in the second quarter valued at about $106,000. Squarepoint Ops LLC raised its position in Byrna Technologies by 9.0% in the second quarter. Squarepoint Ops LLC now owns 51,696 shares of the company’s stock worth $347,000 after purchasing an additional 4,254 shares in the last quarter. Corient Private Wealth LP acquired a new position in Byrna Technologies in the second quarter worth about $95,000. Finally, Bank of New York Mellon Corp bought a new position in Byrna Technologies during the second quarter worth about $86,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

Trending Headlines about Byrna Technologies

Here are the key news stories impacting Byrna Technologies this week:

• Positive Sentiment: EPS beat expectations: Byrna reported a loss of $0.13 per share, better than the consensus estimate of a $0.16 loss. The company also reported a 79% gross margin, helped by a one-time $2.3 million tariff refund. Byrna Technologies earnings report
• Positive Sentiment: Inventory reduction and insider buying provide support: Management is targeting a $2 million to $3 million inventory reduction in the fourth quarter. Separately, reported insider activity showed purchases and no sales over the past six months, which may signal management confidence. Byrna inventory and margin update
• Neutral Sentiment: Acquisition adds potential but execution risk: Byrna completed its acquisition of HERO Defense Systems during the quarter. The deal could broaden its product offering, but investors will watch whether it contributes enough revenue to offset current weakness.
• Negative Sentiment: Revenue and profitability deteriorated sharply: Third-quarter revenue fell to $15.3 million from $28.2 million a year earlier and missed analyst expectations of $16.27 million. Byrna posted a $2.9 million net loss versus $2.2 million of net income in the prior-year quarter, while operating expenses increased 7% to $15.1 million. Cash and marketable securities totaled only $9.4 million, increasing concern about financial flexibility. Byrna fiscal third-quarter results
• Negative Sentiment: Investor sentiment remains mixed: Reports indicated that the stock weakened after the revenue miss and expanding loss. The supplied short-interest update lists zero shares short, despite describing a significant increase, suggesting the data may be inconsistent and should not be treated as a reliable bullish or bearish signal.

Byrna Technologies Company Profile

Byrna Technologies Inc is a personal-security company that develops and sells less-lethal protection products for consumers, security professionals and law enforcement agencies. The company’s product portfolio is centered on handheld launchers designed to provide an alternative to conventional firearms for personal protection and other security applications.

Byrna’s products include compact launchers, projectiles and related accessories. Its ammunition offerings include chemical-irritant rounds, kinetic-impact rounds and inert training rounds, while its product line also includes replacement parts, holsters, storage products and other accessories.