Byrna Technologies (NASDAQ:BYRN) Reaches New 12-Month High – Still a Buy?

Byrna Technologies Inc. (NASDAQ:BYRN) hit a new 52-week high on Monday . The stock traded as high as $25.89 and last traded at $25.17, with a volume of 59859 shares traded. The stock had previously closed at $24.67.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BYRN shares. Roth Capital raised Byrna Technologies to a “strong-buy” rating in a report on Wednesday, August 28th. Roth Mkm reaffirmed a “buy” rating and issued a $20.00 target price on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Price Performance

The company has a market cap of $624.08 million, a PE ratio of 304.70 and a beta of 1.80. The stock has a 50 day simple moving average of $18.12 and a two-hundred day simple moving average of $14.11.

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

Insiders Place Their Bets

In related news, CEO Bryan Ganz sold 5,495 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $17.41, for a total transaction of $95,667.95. Following the completion of the transaction, the chief executive officer now directly owns 432,564 shares of the company’s stock, valued at $7,530,939.24. This represents a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Laurilee Kearnes acquired 2,000 shares of the stock in a transaction on Thursday, October 10th. The stock was acquired at an average cost of $14.04 per share, for a total transaction of $28,080.00. Following the acquisition, 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 position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 7,974 shares of company stock valued at $141,429. 11.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased 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 valued at $1,463,000 after purchasing an additional 59,738 shares in the last quarter. Rhumbline Advisers purchased a new position in Byrna Technologies in the second quarter valued at about $205,000. Dimensional Fund Advisors LP boosted its stake in shares of Byrna Technologies by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock worth $200,000 after acquiring an additional 2,976 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Byrna Technologies during the 2nd quarter worth approximately $786,000. Finally, XTX Topco Ltd acquired a new stake in shares of Byrna Technologies in the 2nd quarter worth approximately $408,000. Institutional investors and hedge funds 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.