Analysts Set Byrna Technologies Inc. (NASDAQ:BYRN) Price Target at $16.63

Shares of Byrna Technologies Inc. (NASDAQ:BYRN) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $15.75.

A number of brokerages have recently weighed in on BYRN. Roth Mkm began coverage on shares of Byrna Technologies in a report on Wednesday. They set a “buy” rating and a $14.00 price target for the company. Roth Capital raised shares of Byrna Technologies to a “strong-buy” rating in a report on Wednesday.

Byrna Technologies Trading Up 1.0 %

Shares of Byrna Technologies stock opened at $11.59 on Wednesday. The company has a 50 day moving average of $10.00 and a 200-day moving average of $11.57. Byrna Technologies has a 1-year low of $2.19 and a 1-year high of $15.34. The company has a market cap of $263.99 million, a PE ratio of -82.79 and a beta of 1.69.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Tuesday, July 9th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. Byrna Technologies had a negative net margin of 4.74% and a negative return on equity of 6.34%. The company had revenue of $20.27 million during the quarter, compared to the consensus estimate of $20.29 million. Research analysts forecast that Byrna Technologies will post -0.02 earnings per share for the current year.

Hedge Funds Weigh In On Byrna Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYRN. Vanguard Group Inc. raised its stake 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 valued at $11,145,000 after acquiring an additional 14,755 shares during the last quarter. M&T Bank Corp raised its stake in shares of Byrna Technologies by 48.2% during the fourth quarter. M&T Bank Corp now owns 166,042 shares of the company’s stock valued at $1,062,000 after acquiring an additional 54,028 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Byrna Technologies during the fourth quarter valued at $32,000. Hamilton Wealth LLC bought a new position in shares of Byrna Technologies during the first quarter valued at $146,000. Finally, Wealthspire Advisors LLC raised its stake in shares of Byrna Technologies by 1.8% during the first quarter. Wealthspire Advisors LLC now owns 553,079 shares of the company’s stock valued at $7,704,000 after acquiring an additional 10,000 shares during the last quarter. Institutional investors own 25.46% of the company’s stock.

Byrna Technologies Company Profile

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.