B. Riley Financial Cuts Byrna Technologies (NASDAQ:BYRN) Price Target to $31.00

Byrna Technologies (NASDAQ:BYRN) had its price objective decreased by B. Riley Financial from $46.00 to $31.00 in a report released on Tuesday morning,Benzinga reports. B. Riley Financial currently has a buy rating on the stock.

Separately, Zacks Research lowered Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

Byrna Technologies Stock Performance

BYRN opened at $9.75 on Tuesday. Byrna Technologies has a one year low of $9.72 and a one year high of $34.30. The business’s 50-day simple moving average is $14.18 and its 200-day simple moving average is $17.79. The stock has a market capitalization of $221.03 million, a P/E ratio of 24.38 and a beta of 2.30.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $35.25 million for 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, equities research analysts forecast that Byrna Technologies will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BYRN. Millennium Management LLC boosted its position in shares of Byrna Technologies by 228.0% during the third 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 period. Invesco Ltd. acquired a new position in shares of Byrna Technologies in the 2nd quarter valued at $13,079,000. AIGH Capital Management LLC purchased a new position in shares of Byrna Technologies in the fourth quarter worth approximately $6,630,000. Pinnacle Associates Ltd. grew its position in Byrna Technologies by 401.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock worth $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 buying an additional 268,108 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.