Byrna Technologies (NASDAQ:BYRN) Reaches New 1-Year High – Here’s Why

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price hit a new 52-week high on Monday . The company traded as high as $25.89 and last traded at $25.17, with a volume of 59859 shares traded. The stock had previously closed at $24.67.

Analyst Ratings Changes

BYRN has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a research report on Wednesday, October 30th. Roth Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.75.

Byrna Technologies Trading Up 4.7 %

The company has a fifty day simple moving average of $18.12 and a 200-day simple moving average of $14.11. The company has a market capitalization of $624.08 million, a PE ratio of 304.70 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last posted its earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $20.85 million for the quarter, compared to analyst estimates of $20.82 million. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. On average, equities analysts predict that Byrna Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Byrna Technologies

In other news, CFO Laurilee Kearnes bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $28,080.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. The trade was a 400.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bryan Ganz sold 5,495 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $17.41, for a total transaction of $95,667.95. Following the sale, the chief executive officer now owns 432,564 shares in the company, valued at $7,530,939.24. This trade represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,974 shares of company stock worth $141,429. Company insiders own 11.08% of the company’s stock.

Hedge Funds Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYRN. Walleye Capital LLC raised its position in Byrna Technologies by 1.3% in the 3rd quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after purchasing an additional 665 shares in the last quarter. nVerses Capital LLC acquired a new stake in Byrna Technologies in the third quarter valued at approximately $34,000. Charles Schwab Investment Management Inc. raised its holdings in Byrna Technologies by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 50,958 shares of the company’s stock valued at $865,000 after acquiring an additional 2,021 shares in the last quarter. Quest Partners LLC purchased a new position in Byrna Technologies in the third quarter worth approximately $46,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Byrna Technologies by 17.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock valued at $200,000 after purchasing an additional 2,976 shares during the last quarter. Hedge funds and other institutional investors 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.