Byrna Technologies Inc. (NASDAQ:BYRN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have earned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.8750.

Several research analysts have recently weighed in on the company. Zacks Research cut Byrna Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded Byrna Technologies from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 12th. B. Riley Financial lowered their price objective on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Craig Hallum downgraded Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 target price for the company. in a research note on Friday, April 10th. Finally, New Street Research set a $7.50 price target on Byrna Technologies in a report on Friday, April 10th.

Byrna Technologies Trading Up 9.1%

BYRN opened at $4.33 on Thursday. The firm has a market capitalization of $98.25 million, a PE ratio of -24.06 and a beta of 1.80. Byrna Technologies has a twelve month low of $3.16 and a twelve month high of $30.62. The firm’s 50-day moving average price is $5.37 and its 200 day moving average price is $8.65.

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

Insider Buying and Selling

In other news, CEO Conn Q. Davis bought 18,768 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were bought at an average cost of $3.46 per share, for a total transaction of $64,937.28. Following the acquisition, the chief executive officer directly owned 18,768 shares of the company’s stock, valued at $64,937.28. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Chris Lavern Reed purchased 8,150 shares of the company’s stock in a transaction dated Friday, July 24th. The stock was purchased at an average cost of $3.63 per share, with a total value of $29,584.50. Following the purchase, the director owned 61,720 shares in the company, valued at approximately $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 ninety days, insiders bought 61,258 shares of company stock worth $215,455. Insiders own 9.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BYRN. Russell Investments Group Ltd. grew its position in Byrna Technologies by 89.6% in the third quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company’s stock worth $49,000 after acquiring an additional 1,047 shares during the period. Comerica Bank purchased a new stake in Byrna Technologies in the fourth quarter valued at $40,000. NBC Securities Inc. raised its position in Byrna Technologies by 226.4% in the fourth quarter. NBC Securities Inc. now owns 2,611 shares of the company’s stock valued at $44,000 after purchasing an additional 1,811 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Byrna Technologies by 178.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock valued at $94,000 after purchasing an additional 1,960 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Byrna Technologies during the 3rd quarter worth $70,000. 25.46% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Byrna Technologies

Here are the key news stories impacting Byrna Technologies this week:

• Positive Sentiment: Company insiders collectively purchased approximately 61,258 shares for more than $215,000. Chairman Tj Kennedy bought 29,000 shares, CEO Conn Davis purchased 22,108 shares across two transactions, Director Chris Lavern Reed acquired 8,150 shares, and CFO Laurilee Kearnes bought 2,000 shares. The purchases, made at roughly $3.42 to $3.63 per share, suggest management and directors view the depressed valuation as attractive. Insider buying report
• Neutral Sentiment: Analyst views remain mixed. The consensus rating is “Moderate Buy,” with an average price target of $7.88, but recent target reductions and downgrades indicate substantial uncertainty surrounding Byrna’s growth prospects. Analyst ratings report
• Negative Sentiment: Byrna’s latest quarterly results significantly missed expectations. The company reported a loss of $0.44 per share versus the anticipated $0.10 loss, while revenue of $16.39 million was below the $22.32 million consensus estimate. Analysts expect the company to remain unprofitable for the full year, with projected EPS of negative $0.63. Byrna earnings report
• Negative Sentiment: Recent research actions included B. Riley cutting its price target from $21 to $12, Roth Capital downgrading the stock to “Neutral” with a $4.50 target, and Zacks Research assigning a “Strong Sell” rating. These actions underscore continuing concerns about slowing sales and losses.

Byrna Technologies Company Profile

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.