Byrna Technologies (NASDAQ:BYRN) Reaches New 12-Month High Following Better-Than-Expected Earnings

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price reached a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $33.94 and last traded at $31.61, with a volume of 204497 shares traded. The stock had previously closed at $29.64.

The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.12. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Byrna Technologies has a consensus rating of “Buy” and a consensus price target of $17.75.

Institutional Trading of Byrna Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Byrna Technologies by 47.9% during the third quarter. FMR LLC now owns 1,694,610 shares of the company’s stock valued at $28,758,000 after purchasing an additional 548,670 shares during the last quarter. Millennium Management LLC raised its holdings in Byrna Technologies by 53.5% in the 2nd quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock worth $3,213,000 after acquiring an additional 112,262 shares during the last quarter. State Street Corp raised its holdings in Byrna Technologies by 36.9% in the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after acquiring an additional 84,723 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Byrna Technologies by 2.1% in the 4th quarter. Bank of New York Mellon Corp now owns 138,445 shares of the company’s stock worth $3,989,000 after acquiring an additional 2,899 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC raised its holdings in Byrna Technologies by 0.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 106,735 shares of the company’s stock worth $3,075,000 after acquiring an additional 355 shares during the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Byrna Technologies Trading Up 10.3 %

The company has a market capitalization of $744.09 million, a PE ratio of 365.16 and a beta of 1.65. The business’s fifty day moving average is $27.11 and its two-hundred day moving average is $19.05.

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.