Byrna Technologies (NASDAQ:BYRN) Trading 7.8% Higher – Should You Buy?

Byrna Technologies Inc. (NASDAQ:BYRN) rose 7.8% on Thursday . The stock traded as high as $28.81 and last traded at $28.56. 310,020 shares traded hands during mid-day trading, a decline of 25% from the average daily volume of 412,532 shares. The stock had previously closed at $26.49.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a “buy” rating and set a $20.00 price target 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Trading Up 4.2 %

The company has a market capitalization of $628.06 million, a price-to-earnings ratio of 306.65 and a beta of 1.65. The stock has a 50-day simple moving average of $26.73 and a 200-day simple moving average of $18.72.

Institutional Investors Weigh In On Byrna Technologies

A number of institutional investors have recently modified their holdings of BYRN. Cornerstone Investment Partners LLC acquired a new stake in Byrna Technologies during the fourth quarter valued at approximately $285,000. NCP Inc. bought a new position in Byrna Technologies during the fourth quarter worth $37,000. Bank of New York Mellon Corp boosted its holdings in 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 worth $3,989,000 after purchasing an additional 2,899 shares during the period. Global Retirement Partners LLC bought a new stake in Byrna Technologies during the fourth quarter valued at $30,000. Finally, New York State Common Retirement Fund raised its holdings in shares of Byrna Technologies by 2,200.0% during the fourth quarter. New York State Common Retirement Fund now owns 6,900 shares of the company’s stock worth $199,000 after purchasing an additional 6,600 shares during the period. 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.