Byrna Technologies Inc. (NASDAQ:BYRN) Given Consensus Recommendation of “Buy” by Brokerages

Byrna Technologies Inc. (NASDAQ:BYRN) has been assigned a consensus recommendation of “Buy” from the seven ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $12.1250.

BYRN has been the subject of several research reports. Wall Street Zen downgraded Byrna Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, April 18th. New Street Research set a $7.50 target price on Byrna Technologies in a research report on Friday, April 10th. B. Riley Financial lowered their price objective on Byrna Technologies from $31.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Roth Mkm reduced their target price on Byrna Technologies from $26.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Texas Capital raised shares of Byrna Technologies to a “strong-buy” rating in a research report on Tuesday, March 24th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BYRN. Millennium Management LLC raised its holdings in Byrna Technologies by 228.0% during the 3rd quarter. Millennium Management LLC now owns 673,138 shares of the company’s stock worth $14,917,000 after purchasing an additional 467,932 shares during the last quarter. Invesco Ltd. bought a new position in Byrna Technologies during the 2nd quarter worth approximately $13,079,000. AIGH Capital Management LLC bought a new position in Byrna Technologies during the 4th quarter worth approximately $6,630,000. Pinnacle Associates Ltd. raised its holdings 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 during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Byrna Technologies by 496.5% during the 1st quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock worth $3,510,000 after purchasing an additional 318,227 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

Byrna Technologies Trading Down 4.2%

Byrna Technologies stock opened at $4.96 on Friday. The company has a market capitalization of $112.54 million, a PE ratio of 13.78 and a beta of 1.81. Byrna Technologies has a 12 month low of $4.84 and a 12 month high of $34.30. The stock has a 50-day moving average price of $7.75 and a two-hundred day moving average price of $13.43.

Byrna Technologies (NASDAQ:BYRN) last posted its earnings results on Thursday, April 9th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The firm had revenue of $29.05 million during the quarter, compared to the consensus estimate of $30.21 million. Byrna Technologies had a net margin of 7.30% and a return on equity of 14.14%. During the same quarter in the prior year, the business posted $0.07 earnings per share. As a group, analysts predict that Byrna Technologies will post 0.03 earnings per share for the current fiscal year.

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.