Byrna Technologies Inc. (NASDAQ:BYRN) Receives Consensus Rating of “Buy” from Analysts

Byrna Technologies Inc. (NASDAQ:BYRN) has been assigned an average recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $39.50.

A number of brokerages have recently issued reports on BYRN. LADENBURG THALM/SH SH raised Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, October 1st. Zacks Research cut Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Roth Capital set a $40.00 target price on Byrna Technologies and gave the company a “buy” rating in a report on Friday, October 10th.

Byrna Technologies Stock Performance

BYRN stock opened at $17.47 on Wednesday. The stock has a market capitalization of $397.02 million, a PE ratio of 26.08 and a beta of 2.28. The company has a fifty day moving average of $19.59 and a 200-day moving average of $22.51. Byrna Technologies has a one year low of $13.68 and a one year high of $34.78.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings results on Thursday, October 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.04. The firm had revenue of $28.18 million during the quarter, compared to analysts’ expectations of $28.00 million. Byrna Technologies had a net margin of 14.43% and a return on equity of 18.13%. During the same period in the prior year, the company posted $0.04 earnings per share. Equities analysts forecast that Byrna Technologies will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. increased its holdings in Byrna Technologies by 138.6% in the third quarter. SBI Securities Co. Ltd. now owns 1,157 shares of the company’s stock valued at $26,000 after buying an additional 672 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Byrna Technologies by 580.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the company’s stock worth $29,000 after acquiring an additional 801 shares during the period. AlphaQuest LLC increased its stake in Byrna Technologies by 1,772.2% in the 1st quarter. AlphaQuest LLC now owns 1,816 shares of the company’s stock valued at $31,000 after purchasing an additional 1,719 shares in the last quarter. Summit Securities Group LLC acquired a new position in Byrna Technologies during the first quarter worth $32,000. Finally, Byrne Asset Management LLC purchased a new stake in Byrna Technologies during the third quarter worth $47,000. 25.46% of the stock is currently owned by institutional investors and hedge funds.

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.