Byrna Technologies (NASDAQ:BYRN) Shares Down 5.3% – Here’s What Happened

Byrna Technologies Inc. (NASDAQ:BYRN) shares fell 5.3% on Tuesday . The company traded as low as $31.87 and last traded at $32.36. 119,069 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 495,710 shares. The stock had previously closed at $34.19.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a report on Wednesday, October 30th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $17.75.

Byrna Technologies Stock Performance

The stock’s 50-day moving average price is $27.42 and its 200-day moving average price is $19.22. The company has a market capitalization of $756.31 million, a price-to-earnings ratio of 368.21 and a beta of 1.65.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.12. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. Analysts anticipate that Byrna Technologies Inc. will post 0.19 earnings per share for the current year.

Hedge Funds Weigh In On Byrna Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Byrna Technologies by 47.9% in the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company’s stock worth $28,758,000 after buying an additional 548,670 shares in the last quarter. Millennium Management LLC raised its stake in Byrna Technologies by 53.5% during the second quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock worth $3,213,000 after acquiring an additional 112,262 shares during the period. State Street Corp grew its position in Byrna Technologies by 36.9% in the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after purchasing an additional 84,723 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Byrna Technologies by 2.1% in the fourth quarter. Bank of New York Mellon Corp now owns 138,445 shares of the company’s stock valued at $3,989,000 after acquiring an additional 2,899 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its holdings in shares of Byrna Technologies by 0.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 106,735 shares of the company’s stock valued at $3,075,000 after acquiring an additional 355 shares in the last quarter. 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.