Byrna Technologies Inc. (NASDAQ:BYRN) Sees Significant Increase in Short Interest

Byrna Technologies Inc. (NASDAQ:BYRN) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 3,090,000 shares, an increase of 8.8% from the November 30th total of 2,840,000 shares. Currently, 17.8% of the company’s stock are short sold. Based on an average daily trading volume, of 588,500 shares, the days-to-cover ratio is presently 5.3 days.

Byrna Technologies Price Performance

Shares of BYRN stock traded down $1.43 on Wednesday, hitting $28.81. The company’s stock had a trading volume of 821,821 shares, compared to its average volume of 350,268. The stock has a market capitalization of $655.66 million, a price-to-earnings ratio of 320.15 and a beta of 1.80. Byrna Technologies has a fifty-two week low of $5.36 and a fifty-two week high of $31.32. The firm’s fifty day moving average price is $20.91 and its 200-day moving average price is $15.37.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $20.85 million during the quarter, compared to analysts’ expectations of $20.82 million. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. Analysts predict that Byrna Technologies will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Laurilee Kearnes bought 2,000 shares of the stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $35,100. This trade represents a 400.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.08% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in BYRN. FMR LLC lifted its position in Byrna Technologies by 47.9% during the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company’s stock worth $28,758,000 after acquiring an additional 548,670 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Byrna Technologies in the second quarter worth about $2,693,000. Millennium Management LLC lifted its position in shares of Byrna Technologies by 53.5% during the 2nd quarter. Millennium Management LLC now owns 321,915 shares of the company’s stock worth $3,213,000 after purchasing an additional 112,262 shares during the last quarter. State Street Corp boosted its stake in Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company’s stock valued at $5,334,000 after purchasing an additional 84,723 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Byrna Technologies in the 2nd quarter valued at approximately $786,000. 25.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Roth Mkm reissued a “buy” rating and issued a $20.00 price target on shares of Byrna Technologies in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Company Profile

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.