Byrna Technologies (NASDAQ:BYRN) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Byrna Technologies (NASDAQ:BYRN) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday,Zacks reports.

BYRN has been the subject of several other reports. B. Riley Financial lowered their price objective on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Roth Capital lowered Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target on the stock. in a research note on Friday, July 10th. Finally, Wall Street Zen cut Byrna Technologies from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.88.

Byrna Technologies Stock Down 1.1%

Shares of BYRN opened at $3.59 on Tuesday. Byrna Technologies has a 52-week low of $3.16 and a 52-week high of $30.62. The stock has a fifty day simple moving average of $4.16 and a two-hundred day simple moving average of $6.39. The company has a market capitalization of $84.04 million, a PE ratio of -19.94 and a beta of 1.76.

Byrna Technologies (NASDAQ:BYRN) last issued its earnings results on Thursday, July 9th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.34). The firm had revenue of $16.39 million for the quarter, compared to analysts’ expectations of $22.32 million. Byrna Technologies had a negative return on equity of 5.85% and a negative net margin of 3.39%. As a group, equities analysts anticipate that Byrna Technologies will post -0.63 earnings per share for the current fiscal year.

Insider Transactions at Byrna Technologies

In other news, Director Leonard J. Elmore acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were purchased at an average price of $4.64 per share, for a total transaction of $46,400.00. Following the acquisition, the director owned 60,811 shares of the company’s stock, valued at $282,163.04. This represents a 19.68% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chris Lavern Reed bought 8,150 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were purchased at an average price of $3.63 per share, with a total value of $29,584.50. Following the completion of the acquisition, the director directly owned 61,720 shares in the company, valued at $224,043.60. This trade represents a 15.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 71,258 shares of company stock valued at $261,855. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Large investors have recently added to or reduced their stakes in the business. State Street Corp boosted its position in Byrna Technologies by 5.8% in the 4th quarter. State Street Corp now owns 987,936 shares of the company’s stock valued at $16,587,000 after buying an additional 54,555 shares during the period. Millennium Management LLC boosted its holdings in Byrna Technologies by 32.7% in the fourth quarter. Millennium Management LLC now owns 893,268 shares of the company’s stock valued at $14,998,000 after purchasing an additional 220,130 shares during the period. UBS Group AG grew its stake in Byrna Technologies by 35.8% during the 4th quarter. UBS Group AG now owns 520,616 shares of the company’s stock worth $8,741,000 after purchasing an additional 137,260 shares in the last quarter. Geode Capital Management LLC increased its holdings in Byrna Technologies by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 440,843 shares of the company’s stock worth $7,403,000 after purchasing an additional 1,126 shares during the period. Finally, Pinnacle Associates Ltd. increased its holdings in Byrna Technologies by 401.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 438,292 shares of the company’s stock worth $7,359,000 after purchasing an additional 350,861 shares during the period. 25.46% of the stock is owned by hedge funds and other institutional investors.

About Byrna Technologies

Byrna Technologies, Inc (NASDAQ: BYRN) designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company’s flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO?-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.