Byrna Technologies (NASDAQ:BYRN) Stock Price Up 5.3% – Time to Buy?

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price was up 5.3% during mid-day trading on Friday . The stock traded as high as $30.46 and last traded at $29.82. Approximately 30,208 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 214,587 shares. The stock had previously closed at $28.32.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reiterated a “buy” rating and set a $20.00 target price on shares of Byrna Technologies in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $17.75.

Byrna Technologies Stock Performance

The company has a market cap of $682.97 million, a P/E ratio of 333.48 and a beta of 1.80. The stock has a 50-day simple moving average of $21.75 and a 200 day simple moving average of $15.72.

Byrna Technologies (NASDAQ:BYRN) last issued its earnings results on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The firm had revenue of $20.85 million during the quarter, compared to analysts’ expectations of $20.82 million. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. Sell-side analysts anticipate that Byrna Technologies Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Activity at Byrna Technologies

In related news, CFO Laurilee Kearnes purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average price of $14.04 per share, with a total value of $28,080.00. Following the purchase, the chief financial officer now directly owns 2,500 shares in the company, valued at $35,100. This represents a 400.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BYRN. Bank of New York Mellon Corp grew its holdings in shares of Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after purchasing an additional 59,738 shares during the last quarter. Rhumbline Advisers acquired a new position in Byrna Technologies in the second quarter valued at about $205,000. Dimensional Fund Advisors LP grew its stake in Byrna Technologies by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock worth $200,000 after buying an additional 2,976 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Byrna Technologies during the second quarter worth approximately $786,000. Finally, XTX Topco Ltd bought a new position in shares of Byrna Technologies in the second quarter valued at approximately $408,000. 25.46% of the stock is owned by institutional investors.

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.