Craig Hallum Begins Coverage on Byrna Technologies (NASDAQ:BYRN)

Equities researchers at Craig Hallum initiated coverage on shares of Byrna Technologies (NASDAQ:BYRN) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $39.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 77.43% from the company’s current price.

BYRN has been the subject of several other reports. Roth Mkm restated a “buy” rating and issued a $33.00 price target on shares of Byrna Technologies in a research report on Thursday, March 20th. Roth Capital reiterated a “buy” rating and set a $37.00 price objective (up from $33.00) on shares of Byrna Technologies in a research report on Wednesday, July 9th. B. Riley reiterated a “buy” rating and set a $46.00 price objective (up from $39.00) on shares of Byrna Technologies in a research report on Friday, July 11th. Finally, Wolfe Research upgraded shares of Byrna Technologies to a “strong-buy” rating in a research report on Friday, June 6th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Byrna Technologies presently has an average rating of “Buy” and an average target price of $38.75.

Byrna Technologies Price Performance

Shares of NASDAQ:BYRN opened at $21.98 on Wednesday. Byrna Technologies has a 1 year low of $7.79 and a 1 year high of $34.78. The stock has a market capitalization of $498.95 million, a price-to-earnings ratio of 35.45 and a beta of 2.02. The company’s 50 day simple moving average is $27.79 and its 200 day simple moving average is $25.41.

Byrna Technologies (NASDAQ:BYRN) last released its earnings results on Thursday, July 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The firm had revenue of $28,505 billion for the quarter, compared to analysts’ expectations of $28.47 million. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%. As a group, analysts anticipate that Byrna Technologies will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Emily Rooney bought 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average price of $20.50 per share, with a total value of $51,250.00. Following the acquisition, the director owned 37,564 shares of the company’s stock, valued at approximately $770,062. The trade was a 7.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 9.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Byrna Technologies

A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Byrna Technologies by 5.0% in the 1st quarter. Rhumbline Advisers now owns 23,590 shares of the company’s stock worth $397,000 after purchasing an additional 1,129 shares during the period. Strs Ohio bought a new stake in Byrna Technologies during the 1st quarter valued at about $113,000. Dynamic Technology Lab Private Ltd bought a new stake in Byrna Technologies during the 1st quarter valued at about $173,000. Millennium Management LLC increased its stake in Byrna Technologies by 247.9% during the 1st quarter. Millennium Management LLC now owns 326,670 shares of the company’s stock valued at $5,501,000 after purchasing an additional 232,770 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Byrna Technologies by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,305 shares of the company’s stock valued at $174,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 25.46% of the company’s stock.

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.