Byrna Technologies Inc. (NASDAQ:BYRN) Short Interest Update

Byrna Technologies Inc. (NASDAQ:BYRN) was the target of a significant drop in short interest in the month of February. As of February 13th, there was short interest totaling 3,212,349 shares, a drop of 13.4% from the January 29th total of 3,709,896 shares. Approximately 15.7% of the shares of the company are short sold. Based on an average trading volume of 831,762 shares, the days-to-cover ratio is presently 3.9 days. Based on an average trading volume of 831,762 shares, the days-to-cover ratio is presently 3.9 days. Approximately 15.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Zacks Research lowered Byrna Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $41.67.

Byrna Technologies Price Performance

NASDAQ BYRN opened at $12.87 on Wednesday. The stock has a market capitalization of $291.76 million, a PE ratio of 32.18 and a beta of 2.30. Byrna Technologies has a 1 year low of $11.13 and a 1 year high of $34.30. The company’s 50 day simple moving average is $14.98 and its two-hundred day simple moving average is $18.18.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $35.25 million during the quarter, compared to analyst estimates of $34.92 million. Byrna Technologies had a return on equity of 16.14% and a net margin of 8.20%. On average, research analysts anticipate that Byrna Technologies will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of BYRN. Millennium Management LLC increased its holdings in shares of Byrna Technologies by 228.0% in the 3rd quarter. Millennium Management LLC now owns 673,138 shares of the company’s stock worth $14,917,000 after buying an additional 467,932 shares during the last quarter. Invesco Ltd. purchased a new position in Byrna Technologies in the second quarter worth $13,079,000. AIGH Capital Management LLC bought a new position in Byrna Technologies in the fourth quarter valued at $6,630,000. Pinnacle Associates Ltd. raised its position in Byrna Technologies by 401.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock valued at $7,359,000 after purchasing an additional 350,861 shares in the last quarter. Finally, UBS Group AG raised its position in Byrna Technologies by 232.6% during the third quarter. UBS Group AG now owns 383,356 shares of the company’s stock valued at $8,495,000 after purchasing an additional 268,108 shares in the last quarter. Hedge funds and other institutional investors own 25.46% of the company’s stock.

About Byrna Technologies

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.