Byrna Technologies (NASDAQ:BYRN) Upgraded at Texas Capital

Texas Capital upgraded shares of Byrna Technologies (NASDAQ:BYRN) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on BYRN. Craig Hallum reiterated a “buy” rating and set a $18.00 price objective on shares of Byrna Technologies in a research note on Tuesday, March 10th. B. Riley Financial cut their price target on shares of Byrna Technologies from $46.00 to $31.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Finally, Zacks Research lowered shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $29.67.

Byrna Technologies Price Performance

Shares of NASDAQ BYRN opened at $9.05 on Tuesday. The stock has a market capitalization of $205.16 million, a price-to-earnings ratio of 22.63 and a beta of 2.30. The business has a 50-day moving average of $12.60 and a 200-day moving average of $17.04. Byrna Technologies has a fifty-two week low of $8.85 and a fifty-two week high of $34.30.

Byrna Technologies (NASDAQ:BYRN) last released its earnings results on Thursday, February 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Byrna Technologies had a return on equity of 16.14% and a net margin of 8.20%.The business had revenue of $35.25 million for the quarter, compared to analyst estimates of $34.92 million. On average, sell-side analysts expect that Byrna Technologies will post 0.28 EPS for the current year.

Hedge Funds Weigh In On Byrna Technologies

Several large investors have recently modified their holdings of BYRN. SBI Securities Co. Ltd. grew its stake in Byrna Technologies by 138.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,157 shares of the company’s stock valued at $26,000 after buying an additional 672 shares during the last quarter. Comerica Bank bought a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $40,000. AlphaQuest LLC grew its position in shares of Byrna Technologies by 1,825.8% in the third quarter. AlphaQuest LLC now owns 1,868 shares of the company’s stock valued at $41,000 after purchasing an additional 1,771 shares during the last quarter. NBC Securities Inc. increased its stake in shares of Byrna Technologies by 226.4% during the fourth quarter. NBC Securities Inc. now owns 2,611 shares of the company’s stock worth $44,000 after purchasing an additional 1,811 shares during the period. Finally, Byrne Asset Management LLC acquired a new stake in Byrna Technologies during the 3rd quarter worth approximately $47,000. 25.46% of the stock is owned by institutional investors.

About Byrna Technologies

Byrna Technologies, Inc (NASDAQ: BYRN) designs, develops and markets non-lethal personal security devices and accessories intended to provide an alternative to traditional firearms. The company’s flagship offerings deploy impact projectiles and chemical irritants in a compact, pistol-style form factor. Its product portfolio includes the Byrna SD and Byrna HD launchers, which utilize proprietary kinetic and irritant cartridges, as well as the lightweight Byrna Air, a CO₂-powered variant optimized for close-quarters defense.

In addition to its core self-defense launchers, Byrna Technologies supplies a range of consumables and support products, including cartridges loaded with pepper-based irritants, inert training rounds, holsters, safe-carry cases and speed loaders.