Byrna Technologies (NASDAQ:BYRN) Trading Up 3.7% – Time to Buy?

Byrna Technologies Inc. (NASDAQ:BYRN) shot up 3.7% on Thursday . The stock traded as high as $30.00 and last traded at $29.89. 31,722 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 345,314 shares. The stock had previously closed at $28.82.

Analyst Upgrades and Downgrades

BYRN has been the subject of a number of recent analyst reports. Roth Mkm reaffirmed a “buy” rating and set a $20.00 target price on shares of Byrna Technologies in a report on Wednesday, October 30th. Roth Capital raised shares of Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Byrna Technologies currently has an average rating of “Buy” and an average price target of $17.75.

Byrna Technologies Trading Up 4.3 %

The stock has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $14.81. The company has a market cap of $684.33 million, a price-to-earnings ratio of 334.15 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings data on Wednesday, October 9th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. The firm had revenue of $20.85 million for the quarter, compared to analyst estimates of $20.82 million. As a group, research analysts forecast that Byrna Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Laurilee Kearnes bought 2,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $14.04 per share, with a total value of $28,080.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,500 shares in the company, valued at approximately $35,100. The trade was a 400.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of Byrna Technologies by 47.9% during the third quarter. FMR LLC now owns 1,694,610 shares of the company’s stock valued at $28,758,000 after buying an additional 548,670 shares during the period. Millennium Management LLC grew its holdings in Byrna Technologies by 53.5% in the second quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock valued at $3,213,000 after purchasing an additional 112,262 shares during the period. State Street Corp grew its holdings in shares of Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after purchasing an additional 84,723 shares during the period. Divisadero Street Capital Management LP purchased a new stake in Byrna Technologies during the second quarter worth approximately $2,693,000. Finally, Bank of New York Mellon Corp increased its position in shares of Byrna Technologies by 68.8% in the second quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after acquiring an additional 59,738 shares in the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

About Byrna Technologies

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.