Byrna Technologies (NASDAQ:BYRN) Shares Up 5.3% – Still a Buy?

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price shot up 5.3% on Friday . The company traded as high as $30.46 and last traded at $29.82. 30,208 shares were traded during trading, a decline of 86% from the average session volume of 214,587 shares. The stock had previously closed at $28.32.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reiterated a “buy” rating and issued a $20.00 price objective on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.75.

Byrna Technologies Stock Up 4.1 %

The company has a 50 day moving average of $21.46 and a 200 day moving average of $15.55. The stock has a market capitalization of $670.91 million, a price-to-earnings ratio of 327.59 and a beta of 1.80.

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

Insiders Place Their Bets

In related news, CFO Laurilee Kearnes purchased 2,000 shares of the stock in a transaction on Thursday, October 10th. The shares were bought at an average price of $14.04 per share, for a total transaction 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. This trade represents a 400.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock valued at $1,463,000 after buying an additional 59,738 shares during the period. Rhumbline Advisers bought a new stake in Byrna Technologies during the second quarter worth about $205,000. Dimensional Fund Advisors LP increased its holdings in shares of Byrna Technologies by 17.5% during the second quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company’s stock worth $200,000 after buying an additional 2,976 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Byrna Technologies in the 2nd quarter worth approximately $786,000. Finally, XTX Topco Ltd bought a new position in Byrna Technologies in the 2nd quarter valued at $408,000. Institutional investors own 25.46% of the company’s stock.

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.