Byrna Technologies Inc. (NASDAQ:BYRN) Short Interest Up 9.8% in May

Byrna Technologies Inc. (NASDAQ:BYRN) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 1,120,000 shares, a growth of 9.8% from the May 15th total of 1,020,000 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average trading volume of 241,200 shares, the days-to-cover ratio is presently 4.6 days.

Analyst Ratings Changes

BYRN has been the topic of a number of recent research reports. TheStreet raised shares of Byrna Technologies from a “d+” rating to a “c-” rating in a research note on Thursday, March 7th. B. Riley reaffirmed a “buy” rating and set a $17.00 price objective (up from $14.00) on shares of Byrna Technologies in a research note on Monday, April 8th. Finally, LADENBURG THALM/SH SH increased their target price on Byrna Technologies from $12.75 to $16.25 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

Insider Buying and Selling at Byrna Technologies

In related news, Chairman Herbert Hughes sold 8,836 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $11.16, for a total value of $98,609.76. Following the completion of the transaction, the chairman now owns 128,589 shares in the company, valued at approximately $1,435,053.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Byrna Technologies news, insider Lisa Wager sold 8,333 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $12.00, for a total transaction of $99,996.00. Following the transaction, the insider now directly owns 249,555 shares in the company, valued at approximately $2,994,660. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Herbert Hughes sold 8,836 shares of Byrna Technologies stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $11.16, for a total transaction of $98,609.76. Following the sale, the chairman now owns 128,589 shares of the company’s stock, valued at approximately $1,435,053.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,502 shares of company stock worth $292,019. 8.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Byrna Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates lifted its position in Byrna Technologies by 286.4% in the 4th quarter. Raymond James & Associates now owns 127,592 shares of the company’s stock valued at $815,000 after acquiring an additional 94,575 shares in the last quarter. M&T Bank Corp raised its stake in shares of Byrna Technologies by 48.2% in the 4th quarter. M&T Bank Corp now owns 166,042 shares of the company’s stock valued at $1,062,000 after purchasing an additional 54,028 shares during the period. Federated Hermes Inc. boosted its position in shares of Byrna Technologies by 33.3% during the third quarter. Federated Hermes Inc. now owns 160,000 shares of the company’s stock worth $358,000 after buying an additional 40,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Byrna Technologies by 1.9% during the first quarter. Vanguard Group Inc. now owns 800,051 shares of the company’s stock worth $11,145,000 after buying an additional 14,755 shares during the period. Finally, Hamilton Wealth LLC bought a new position in shares of Byrna Technologies during the first quarter worth about $146,000. 25.46% of the stock is currently owned by institutional investors and hedge funds.

Byrna Technologies Stock Performance

BYRN opened at $10.57 on Wednesday. The firm’s fifty day moving average is $12.51 and its two-hundred day moving average is $10.32. The firm has a market cap of $240.36 million, a PE ratio of -37.86 and a beta of 1.73. Byrna Technologies has a twelve month low of $2.19 and a twelve month high of $15.34.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings data on Friday, April 5th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.12. Byrna Technologies had a negative return on equity of 13.16% and a negative net margin of 11.83%. The business had revenue of $16.65 million for the quarter, compared to the consensus estimate of $16.65 million. Equities analysts forecast that Byrna Technologies will post -0.01 EPS for the current fiscal year.

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.