Byrna Technologies (NASDAQ:BYRN) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Byrna Technologies (NASDAQ:BYRN) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Other analysts also recently issued research reports about the company. New Street Research set a $7.50 target price on Byrna Technologies in a research report on Friday, April 10th. Texas Capital upgraded Byrna Technologies to a “strong-buy” rating in a research note on Tuesday, March 24th. Craig Hallum lowered Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 price target on the stock. in a research report on Friday, April 10th. B. Riley Financial lowered their price target on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Roth Capital cut Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price objective on the stock. in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.88.

Byrna Technologies Trading Down 4.8%

Byrna Technologies stock opened at $3.40 on Tuesday. The company has a market cap of $77.15 million, a P/E ratio of -18.89 and a beta of 1.80. Byrna Technologies has a 1-year low of $3.37 and a 1-year high of $30.62. The company has a fifty day simple moving average of $5.64 and a 200 day simple moving average of $9.50.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, July 9th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.34). Byrna Technologies had a negative return on equity of 5.85% and a negative net margin of 3.39%.The business had revenue of $16.39 million for the quarter, compared to the consensus estimate of $22.32 million. On average, equities research analysts forecast that Byrna Technologies will post -0.63 EPS for the current year.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds have recently added to or reduced their stakes in the business. AIGH Capital Management LLC acquired a new position in shares of Byrna Technologies in the fourth quarter valued at $6,630,000. UBS Group AG lifted its stake in shares of Byrna Technologies by 35.8% during the 4th quarter. UBS Group AG now owns 520,616 shares of the company’s stock worth $8,741,000 after buying an additional 137,260 shares during the last quarter. Penn Capital Management Company LLC acquired a new stake in shares of Byrna Technologies during the 4th quarter worth about $2,785,000. Emerald Advisers LLC boosted its holdings in shares of Byrna Technologies by 165.7% during the 1st quarter. Emerald Advisers LLC now owns 432,626 shares of the company’s stock worth $3,972,000 after buying an additional 269,817 shares during the period. Finally, Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Byrna Technologies by 184.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 320,151 shares of the company’s stock worth $2,939,000 after buying an additional 207,781 shares during the period. Institutional investors and hedge funds own 25.46% of the company’s stock.

Byrna Technologies Company Profile

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.