Byrna Technologies (NASDAQ:BYRN) Raised to “Hold” at Zacks Research

Byrna Technologies (NASDAQ:BYRN) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities analysts have also recently issued reports about the company. B. Riley Financial dropped their price objective on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Wall Street Zen cut Byrna Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. Finally, Roth Capital downgraded Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target for the company. in a research note on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $7.88.

Byrna Technologies Stock Performance

NASDAQ:BYRN opened at $3.59 on Tuesday. Byrna Technologies has a 52 week low of $3.16 and a 52 week high of $30.62. The firm has a market cap of $84.04 million, a price-to-earnings ratio of -19.94 and a beta of 1.76. The firm’s 50-day simple moving average is $4.16 and its 200 day simple moving average is $6.39.

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

Insider Activity at Byrna Technologies

In related news, CEO Conn Q. Davis bought 18,768 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were purchased at an average price of $3.46 per share, for a total transaction of $64,937.28. Following the completion of the transaction, the chief executive officer directly owned 18,768 shares of the company’s stock, valued at approximately $64,937.28. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Leonard J. Elmore bought 10,000 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were bought at an average cost of $4.64 per share, for a total transaction of $46,400.00. Following the purchase, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 71,258 shares of company stock worth $261,855 in the last 90 days. 1.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Byrna Technologies

Several large investors have recently bought and sold shares of the company. Comerica Bank bought a new stake in shares of Byrna Technologies during the fourth quarter worth about $40,000. Russell Investments Group Ltd. increased its stake in shares of Byrna Technologies by 89.6% in the third quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company’s stock valued at $49,000 after buying an additional 1,047 shares during the period. Quarry LP bought a new position in Byrna Technologies in the 3rd quarter valued at approximately $70,000. Bank of New York Mellon Corp bought a new position in Byrna Technologies in the 2nd quarter valued at approximately $86,000. Finally, Tower Research Capital LLC TRC boosted its position in Byrna Technologies by 178.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock worth $94,000 after buying an additional 1,960 shares during the period. 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.