Byrna Technologies (NASDAQ:BYRN) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $4.03 and traded as high as $4.19. Byrna Technologies shares last traded at $4.16, with a volume of 191,749 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wall Street Zen raised Byrna Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. B. Riley Financial dropped their price target on shares of Byrna Technologies from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Craig Hallum reissued a “hold” rating and issued a $3.50 price target on shares of Byrna Technologies in a report on Friday, October 9th. Finally, Zacks Research upgraded shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.62.

Byrna Technologies Stock Up 5.9%

The stock has a market cap of $97.39 million, a price-to-earnings ratio of -10.40 and a beta of 1.81. The company’s 50-day simple moving average is $4.03 and its 200-day simple moving average is $6.59.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. The company had revenue of $15.30 million for the quarter, compared to analysts’ expectations of $16.27 million. As a group, analysts expect that Byrna Technologies Inc. will post -0.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Adam L. Roth bought 10,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were bought at an average cost of $4.77 per share, with a total value of $47,700.00. Following the completion of the transaction, the director directly owned 19,379 shares of the company’s stock, valued at approximately $92,437.83. This trade represents a 106.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.

Institutional Trading of Byrna Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MGO One Seven LLC lifted its stake in Byrna Technologies by 18.9% during the third quarter. MGO One Seven LLC now owns 16,867 shares of the company’s stock valued at $55,000 after buying an additional 2,684 shares in the last quarter. Byrne Asset Management LLC raised its holdings in shares of Byrna Technologies by 107.0% during the third quarter. Byrne Asset Management LLC now owns 22,600 shares of the company’s stock valued at $79,000 after acquiring an additional 11,680 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Byrna Technologies during the second quarter valued at approximately $106,000. Squarepoint Ops LLC raised its holdings in shares of Byrna Technologies by 9.0% during the second quarter. Squarepoint Ops LLC now owns 51,696 shares of the company’s stock valued at $347,000 after acquiring an additional 4,254 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of Byrna Technologies in the 2nd quarter valued at approximately $95,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

About Byrna Technologies

Byrna Technologies Inc. is a developer and manufacturer of non-lethal personal security products. The company’s product portfolio is centered on compact, CO2-powered launchers designed to provide an alternative to traditional firearms for personal protection, home security and professional use. Byrna offers launchers, projectiles and related accessories, including chemical-irritant, kinetic and training ammunition. Its products are marketed through direct-to-consumer and wholesale channels and are intended for consumers, private security personnel, law enforcement agencies and other professional users.