Byrna Technologies (NASDAQ:BYRN) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Byrna Technologies (NASDAQ:BYRN) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

BYRN has been the subject of several other reports. Wolfe Research raised shares of Byrna Technologies to a “strong-buy” rating in a report on Friday, June 6th. Craig Hallum started coverage on shares of Byrna Technologies in a report on Wednesday, July 16th. They issued a “buy” rating and a $39.00 price objective for the company. B. Riley reissued a “buy” rating and set a $46.00 target price (up from $39.00) on shares of Byrna Technologies in a research note on Friday, July 11th. Finally, Roth Capital raised their target price on Byrna Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $38.75.

Byrna Technologies Stock Up 1.6%

Shares of BYRN stock opened at $22.60 on Wednesday. The stock has a market cap of $513.02 million, a PE ratio of 36.45 and a beta of 2.05. The business has a 50-day simple moving average of $20.82 and a 200-day simple moving average of $22.94. Byrna Technologies has a 52-week low of $13.10 and a 52-week high of $34.78.

Byrna Technologies (NASDAQ:BYRN) last posted its earnings results on Thursday, July 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.05 by $0.05. Byrna Technologies had a return on equity of 16.96% and a net margin of 14.28%.The firm had revenue of $28.51 million for the quarter, compared to analyst estimates of $28.47 million. Sell-side analysts anticipate that Byrna Technologies will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in Byrna Technologies by 580.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 939 shares of the company’s stock valued at $29,000 after purchasing an additional 801 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Byrna Technologies by 1,772.2% in the first quarter. AlphaQuest LLC now owns 1,816 shares of the company’s stock worth $31,000 after buying an additional 1,719 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Byrna Technologies in the first quarter worth about $32,000. Tower Research Capital LLC TRC boosted its position in Byrna Technologies by 178.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock worth $94,000 after acquiring an additional 1,960 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Byrna Technologies by 28.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,549 shares of the company’s stock valued at $110,000 after acquiring an additional 789 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

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.