Byrna Technologies (NASDAQ:BYRN) Shares Gap Up Following Strong Earnings

Byrna Technologies Inc. (NASDAQ:BYRN) gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $27.50, but opened at $29.25. Byrna Technologies shares last traded at $31.33, with a volume of 442,206 shares changing hands.

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

Analysts Set New Price Targets

Separately, Roth Mkm restated a “buy” rating and set a $20.00 price objective on shares of Byrna Technologies in a report on Wednesday, October 30th. Three 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.com, the company has an average rating of “Buy” and a consensus price target of $17.75.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new stake in Byrna Technologies in the fourth quarter valued at $30,000. nVerses Capital LLC bought a new position in Byrna Technologies during the 3rd quarter worth approximately $34,000. NCP Inc. acquired a new position in Byrna Technologies in the fourth quarter valued at about $37,000. Quest Partners LLC acquired a new stake in shares of Byrna Technologies during the third quarter worth $46,000. Finally, Algert Global LLC acquired a new position in shares of Byrna Technologies during the second quarter worth about $131,000. Institutional investors and hedge funds own 25.46% of the company’s stock.

Byrna Technologies Stock Up 11.7 %

The stock has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $18.78. The stock has a market capitalization of $699.30 million, a P/E ratio of 341.44 and a beta of 1.65.

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.