Byrna Technologies (NASDAQ:BYRN) Reaches New 12-Month High on Better-Than-Expected Earnings

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price reached a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $33.94 and last traded at $31.61, with a volume of 204497 shares. The stock had previously closed at $29.64.

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 net margin of 3.12% and a return on equity of 5.58%.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “buy” rating and set a $20.00 price target on shares of Byrna Technologies in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.75.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in Byrna Technologies during the 4th quarter valued at $30,000. nVerses Capital LLC bought a new position in Byrna Technologies in the third quarter worth about $34,000. NCP Inc. bought a new position in shares of Byrna Technologies during the 4th quarter worth approximately $37,000. Quest Partners LLC acquired a new stake in shares of Byrna Technologies in the 3rd quarter worth $46,000. Finally, SG Americas Securities LLC purchased a new stake in Byrna Technologies in the fourth quarter valued at about $134,000. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Byrna Technologies Stock Performance

The firm has a market cap of $778.16 million, a price-to-earnings ratio of 379.93 and a beta of 1.65. The stock’s 50 day simple moving average is $27.42 and its 200-day simple moving average is $19.22.

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.