Brokerages Set Byrna Technologies Inc. (NASDAQ:BYRN) Target Price at $29.67

Byrna Technologies Inc. (NASDAQ:BYRN) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $29.6667.

BYRN has been the subject of several research analyst reports. Texas Capital upgraded Byrna Technologies to a “strong-buy” rating in a research report on Tuesday, March 24th. B. Riley Financial decreased their target price on shares of Byrna Technologies from $46.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Zacks Research cut shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Craig Hallum reiterated a “buy” rating and issued a $18.00 price target on shares of Byrna Technologies in a report on Tuesday, March 10th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GatePass Capital LLC purchased a new stake in shares of Byrna Technologies during the 3rd quarter worth approximately $1,309,000. Osaic Holdings Inc. increased its stake in Byrna Technologies by 188.4% in the 2nd quarter. Osaic Holdings Inc. now owns 103,191 shares of the company’s stock valued at $3,186,000 after purchasing an additional 67,406 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Byrna Technologies by 27.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 436,322 shares of the company’s stock worth $13,474,000 after purchasing an additional 93,626 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Byrna Technologies by 39.4% during the second quarter. Advisors Asset Management Inc. now owns 73,166 shares of the company’s stock worth $2,259,000 after purchasing an additional 20,667 shares in the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in Byrna Technologies during the second quarter worth $3,452,000. 25.46% of the stock is owned by hedge funds and other institutional investors.

Byrna Technologies Stock Performance

Shares of BYRN opened at $8.80 on Friday. Byrna Technologies has a twelve month low of $8.76 and a twelve month high of $34.30. The stock’s 50 day moving average is $12.44 and its two-hundred day moving average is $16.92. The firm has a market capitalization of $199.50 million, a PE ratio of 22.00 and a beta of 2.30.

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

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.