Byrna Technologies Inc. (NASDAQ:BYRN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Byrna Technologies Inc. (NASDAQ:BYRN) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $15.75.

BYRN has been the subject of several recent research reports. Roth Capital raised shares of Byrna Technologies to a “strong-buy” rating in a report on Wednesday, August 28th. Roth Mkm initiated coverage on Byrna Technologies in a report on Wednesday, August 28th. They set a “buy” rating and a $14.00 target price on the stock.

Byrna Technologies Price Performance

Shares of NASDAQ:BYRN opened at $17.00 on Friday. Byrna Technologies has a 1 year low of $2.19 and a 1 year high of $17.44. The firm has a market capitalization of $387.21 million, a P/E ratio of -121.43 and a beta of 1.67. The business’s 50-day moving average is $11.52 and its 200 day moving average is $11.92.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Tuesday, July 9th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Byrna Technologies had a negative return on equity of 6.34% and a negative net margin of 4.74%. The company had revenue of $20.27 million during the quarter, compared to analysts’ expectations of $20.29 million. On average, analysts expect that Byrna Technologies will post 0.1 EPS for the current year.

Insider Activity

In other Byrna Technologies news, CEO Bryan Ganz sold 17,442 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $15.40, for a total transaction of $268,606.80. Following the completion of the transaction, the chief executive officer now owns 460,617 shares of the company’s stock, valued at $7,093,501.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Bryan Ganz sold 17,442 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $15.40, for a total transaction of $268,606.80. Following the completion of the sale, the chief executive officer now owns 460,617 shares of the company’s stock, valued at approximately $7,093,501.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Herbert Hughes sold 6,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $15.08, for a total value of $98,020.00. Following the completion of the sale, the chairman now owns 122,089 shares of the company’s stock, valued at $1,841,102.12. The disclosure for this sale can be found here. Insiders have sold a total of 46,442 shares of company stock worth $679,152 over the last 90 days. 8.44% of the stock is currently owned by company insiders.

Institutional Trading of Byrna Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Divisadero Street Capital Management LP acquired a new position in shares of Byrna Technologies in the 2nd quarter valued at $2,693,000. Millennium Management LLC increased 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 valued at $3,213,000 after purchasing an additional 112,262 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Byrna Technologies in the second quarter valued at approximately $786,000. Bank of New York Mellon Corp lifted its stake in Byrna Technologies by 68.8% during the second quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after purchasing an additional 59,738 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Byrna Technologies during the second quarter worth $466,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

About Byrna Technologies

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.