Byrna Technologies (NASDAQ:BYRN) Given New $31.00 Price Target at B. Riley Financial

Byrna Technologies (NASDAQ:BYRN) had its price target lowered by B. Riley Financial from $46.00 to $31.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Zacks Research lowered shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $29.67.

Byrna Technologies Trading Down 4.2%

NASDAQ:BYRN opened at $10.35 on Tuesday. The stock has a market capitalization of $234.63 million, a PE ratio of 25.88 and a beta of 2.30. Byrna Technologies has a 1-year low of $10.13 and a 1-year high of $34.30. The firm has a fifty day simple moving average of $14.45 and a 200 day simple moving average of $17.90.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly 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. The firm had revenue of $35.25 million for the quarter, compared to analyst estimates of $34.92 million. Byrna Technologies had a net margin of 8.20% and a return on equity of 16.14%. On average, equities analysts predict that Byrna Technologies will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Byrna Technologies

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