Byrna Technologies (NASDAQ:BYRN) Stock Rating Lowered by Zacks Research

Byrna Technologies (NASDAQ:BYRN) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Craig Hallum cut Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 price objective on the stock. in a research report on Friday, April 10th. Roth Capital downgraded shares of Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target on the stock. in a research note on Friday, July 10th. Wall Street Zen lowered shares of Byrna Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday. New Street Research set a $7.50 price objective on shares of Byrna Technologies 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. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.88.

Byrna Technologies Stock Up 0.8%

Shares of NASDAQ:BYRN opened at $3.57 on Tuesday. Byrna Technologies has a 12-month low of $3.51 and a 12-month high of $30.62. The business has a 50 day moving average of $5.68 and a 200-day moving average of $9.59. The stock has a market cap of $81.01 million, a PE ratio of -19.83 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last announced its earnings results on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.34). The firm had revenue of $16.39 million for the quarter, compared to the consensus estimate of $22.32 million. Byrna Technologies had a negative return on equity of 5.85% and a negative net margin of 3.39%. Equities research analysts expect that Byrna Technologies will post -0.63 earnings per share for the current year.

Institutional Trading of Byrna Technologies

A number of institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Byrna Technologies by 21.3% during the 1st quarter. Royal Bank of Canada now owns 23,373 shares of the company’s stock worth $393,000 after purchasing an additional 4,108 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Byrna Technologies by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company’s stock valued at $174,000 after purchasing an additional 468 shares in the last quarter. Millennium Management LLC raised its stake in Byrna Technologies by 247.9% in the first quarter. Millennium Management LLC now owns 326,670 shares of the company’s stock valued at $5,501,000 after purchasing an additional 232,770 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Byrna Technologies during the first quarter worth about $173,000. Finally, Strs Ohio bought a new stake in Byrna Technologies during the first quarter worth about $113,000. 25.46% of the stock is currently owned by institutional investors.

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.