Byrna Technologies (NASDAQ:BYRN) Trading 5.1% Higher – Time to Buy?

Byrna Technologies Inc. (NASDAQ:BYRN) shares shot up 5.1% on Wednesday . The stock traded as high as $23.29 and last traded at $22.85. 72,690 shares changed hands during trading, a decline of 78% from the average session volume of 332,339 shares. The stock had previously closed at $21.74.

Analyst Upgrades and Downgrades

BYRN has been the topic of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $20.00 target price on shares of Byrna Technologies in a research report on Wednesday, October 30th. Roth Capital upgraded Byrna Technologies to a “strong-buy” rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Byrna Technologies presently has an average rating of “Buy” and an average price target of $17.75.

Byrna Technologies Price Performance

The company has a market cap of $554.16 million, a PE ratio of 259.78 and a beta of 1.80. The stock has a fifty day moving average price of $17.33 and a 200-day moving average price of $13.64.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $20.85 million during the quarter, compared to analyst estimates of $20.82 million. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. On average, equities analysts anticipate that Byrna Technologies Inc. will post 0.17 earnings per share for the current year.

Insider Buying and Selling at Byrna Technologies

In other news, CEO Bryan Ganz sold 2,478 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $18.46, for a total transaction of $45,743.88. Following the transaction, the chief executive officer now owns 398,059 shares in the company, valued at $7,348,169.14. This represents a 0.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lisa Wager sold 2,450 shares of Byrna Technologies stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $17.01, for a total transaction of $41,674.50. Following the completion of the sale, the insider now directly owns 224,555 shares of the company’s stock, valued at approximately $3,819,680.55. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,474 shares of company stock worth $183,954. 11.08% of the stock is currently owned by company insiders.

Institutional Trading of Byrna Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Byrna Technologies by 47.9% during the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company’s stock valued at $28,758,000 after acquiring an additional 548,670 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Byrna Technologies in the second quarter valued at approximately $2,693,000. Millennium Management LLC lifted its stake in shares of Byrna Technologies by 53.5% in the second quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock worth $3,213,000 after buying an additional 112,262 shares during the last quarter. State Street Corp boosted its holdings in shares of Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after buying an additional 84,723 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Byrna Technologies in the 2nd quarter valued at $786,000. 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.