Byrna Technologies (NASDAQ:BYRN) Hits New 12-Month High – Here’s Why

Byrna Technologies Inc. (NASDAQ:BYRN) reached a new 52-week high during trading on Monday . The company traded as high as $30.16 and last traded at $30.16, with a volume of 4145 shares. The stock had previously closed at $29.56.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BYRN shares. Roth Mkm reissued a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a research note on Wednesday, October 30th. Roth Capital raised Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.75.

Byrna Technologies Stock Down 3.2 %

The business’s fifty day moving average is $18.96 and its two-hundred day moving average is $14.46. The stock has a market capitalization of $651.33 million, a PE ratio of 318.04 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $20.85 million during the quarter, compared to analyst estimates of $20.82 million. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. Sell-side analysts expect that Byrna Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Transactions at Byrna Technologies

In related news, CFO Laurilee Kearnes acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was bought at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. This represents a 400.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Bryan Ganz sold 2,478 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $18.46, for a total value of $45,743.88. Following the completion of the sale, the chief executive officer now owns 398,059 shares of the company’s stock, valued at $7,348,169.14. This represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after buying an additional 59,738 shares during the last quarter. Rhumbline Advisers acquired a new position in Byrna Technologies during the 2nd quarter valued at about $205,000. Dimensional Fund Advisors LP grew its stake in shares of Byrna Technologies by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock worth $200,000 after acquiring an additional 2,976 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Byrna Technologies in the 2nd quarter valued at approximately $786,000. Finally, XTX Topco Ltd acquired a new position in Byrna Technologies during the 2nd quarter valued at approximately $408,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Byrna Technologies Company Profile

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.