Byrna Technologies (NASDAQ:BYRN) Shares Gap Up Following Strong Earnings

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $27.50, but opened at $29.25. Byrna Technologies shares last traded at $31.33, with a volume of 442,206 shares traded.

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 reissued a “buy” rating and set 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Byrna Technologies presently has a consensus rating of “Buy” and a consensus target price of $17.75.

Institutional Investors Weigh In On Byrna Technologies

Large investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Byrna Technologies in the 4th quarter valued at $30,000. nVerses Capital LLC purchased a new position in Byrna Technologies during the third quarter worth about $34,000. NCP Inc. acquired a new stake in Byrna Technologies in the fourth quarter valued at about $37,000. Quest Partners LLC purchased a new stake in Byrna Technologies in the 3rd quarter valued at approximately $46,000. Finally, Algert Global LLC acquired a new position in Byrna Technologies during the 2nd quarter worth approximately $131,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Byrna Technologies Trading Up 7.8 %

The firm has a market capitalization of $674.61 million, a PE ratio of 329.37 and a beta of 1.65. The business has a 50 day moving average price of $27.11 and a 200-day moving average price of $18.92.

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.