Byrna Technologies (NASDAQ:BYRN) Shares Up 10.9% – Here’s Why

Byrna Technologies Inc. (NASDAQ:BYRN) shares were up 10.9% during mid-day trading on Thursday . The company traded as high as $29.72 and last traded at $29.21. Approximately 136,291 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 341,181 shares. The stock had previously closed at $26.35.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $20.00 price target on shares of Byrna Technologies in a research report on Wednesday, October 30th. Roth Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Byrna Technologies has a consensus rating of “Buy” and an average price target of $17.75.

Byrna Technologies Trading Up 3.9 %

The firm has a market capitalization of $672.73 million, a PE ratio of 328.48 and a beta of 1.80. The business has a fifty day moving average price of $18.96 and a two-hundred day moving average price of $14.42.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. The business had revenue of $20.85 million during the quarter, compared to analysts’ expectations of $20.82 million. On average, equities analysts forecast that Byrna Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Byrna Technologies

In related news, CFO Laurilee Kearnes bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was purchased at an average cost of $14.04 per share, with a total value of $28,080.00. Following the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. This trade represents a 400.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Bryan Ganz sold 2,478 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $18.46, for a total value of $45,743.88. Following the sale, the chief executive officer now owns 398,059 shares in the company, valued at approximately $7,348,169.14. This trade represents a 0.62 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

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

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.