LADENBURG THALM/SH SH Upgrades Byrna Technologies (NASDAQ:BYRN) to Strong-Buy

Byrna Technologies (NASDAQ:BYRN) was upgraded by analysts at LADENBURG THALM/SH SH to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Wolfe Research raised shares of Byrna Technologies to a “strong-buy” rating in a research report on Friday, June 6th. B. Riley restated a “buy” rating and set a $46.00 price objective (up from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Craig Hallum started coverage on Byrna Technologies in a research report on Wednesday, July 16th. They issued a “buy” rating and a $39.00 target price on the stock. Finally, Roth Capital lifted their price target on Byrna Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $38.75.

Byrna Technologies Stock Performance

Byrna Technologies stock opened at $22.25 on Wednesday. The stock has a 50-day simple moving average of $20.84 and a 200 day simple moving average of $22.91. The stock has a market capitalization of $505.08 million, a P/E ratio of 35.89 and a beta of 2.05. Byrna Technologies has a 52 week low of $13.10 and a 52 week high of $34.78.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings data on Thursday, July 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%.The company had revenue of $28.51 million during the quarter, compared to analysts’ expectations of $28.47 million. Research analysts forecast that Byrna Technologies will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Invesco Ltd. acquired a new position in Byrna Technologies in the second quarter valued at about $13,079,000. Millennium Management LLC increased its holdings in Byrna Technologies by 247.9% in the 1st quarter. Millennium Management LLC now owns 326,670 shares of the company’s stock valued at $5,501,000 after buying an additional 232,770 shares during the period. Nuveen LLC bought a new position in Byrna Technologies in the 1st quarter valued at about $3,890,000. Driehaus Capital Management LLC boosted its position in shares of Byrna Technologies by 39.3% during the 1st quarter. Driehaus Capital Management LLC now owns 449,848 shares of the company’s stock worth $7,575,000 after acquiring an additional 126,894 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in shares of Byrna Technologies during the 2nd quarter worth approximately $3,452,000. 25.46% of the stock is owned by institutional investors.

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.