Byrna Technologies (NASDAQ:BYRN) Trading 5.1% Higher – Here’s What Happened

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price was up 5.1% during trading on Wednesday . The company traded as high as $23.29 and last traded at $22.85. Approximately 72,690 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 332,339 shares. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BYRN. Roth Mkm restated a “buy” rating and set a $20.00 target price on shares of Byrna Technologies in a research note on Wednesday, October 30th. Roth Capital raised Byrna Technologies to a “strong-buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Price Performance

The firm has a 50 day moving average of $17.33 and a 200-day moving average of $13.64. The stock has a market capitalization of $554.16 million, a P/E ratio of 259.78 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings data on Wednesday, October 9th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. The business had revenue of $20.85 million for the quarter, compared to analysts’ expectations of $20.82 million. As a group, equities analysts expect that Byrna Technologies Inc. will post 0.17 earnings per share for the current year.

Insider Transactions at Byrna Technologies

In related news, insider Lisa Wager sold 2,450 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $17.01, for a total transaction of $41,674.50. Following the completion of the transaction, the insider now owns 224,555 shares in the company, valued at $3,819,680.55. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Laurilee Kearnes purchased 2,000 shares of the stock in a transaction on Thursday, October 10th. The stock was bought at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $35,100. This trade represents a 400.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 10,474 shares of company stock valued at $183,954. Company insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of Byrna Technologies by 321.5% during the third quarter. Barclays PLC now owns 24,719 shares of the company’s stock worth $419,000 after buying an additional 18,855 shares in the last quarter. State Street Corp grew its position in Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after acquiring an additional 84,723 shares during the last quarter. Centiva Capital LP acquired a new stake in Byrna Technologies during the 3rd quarter valued at $286,000. Verition Fund Management LLC raised its position in Byrna Technologies by 113.9% in the 3rd quarter. Verition Fund Management LLC now owns 34,018 shares of the company’s stock valued at $577,000 after purchasing an additional 18,118 shares during the last quarter. Finally, Walleye Capital LLC boosted its stake in Byrna Technologies by 1.3% in the third quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock worth $889,000 after purchasing an additional 665 shares in the last quarter. 25.46% of the stock is owned by 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.