Byrna Technologies (NASDAQ:BYRN) Trading Down 4.4% – Should You Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price traded down 4.4% on Tuesday . The stock traded as low as $28.00 and last traded at $28.90. 183,215 shares changed hands during trading, a decline of 47% from the average session volume of 347,438 shares. The stock had previously closed at $30.24.

Wall Street Analysts Forecast Growth

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

Byrna Technologies Price Performance

The company’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $15.37. The company has a market cap of $655.66 million, a price-to-earnings ratio of 320.15 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $20.82 million. Equities analysts predict that Byrna Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insider Activity at Byrna Technologies

In related news, CFO Laurilee Kearnes acquired 2,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was bought at an average cost of $14.04 per share, with a total value of $28,080.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 11.08% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Byrna Technologies

Large investors have recently modified their holdings of the stock. FMR LLC increased its holdings in Byrna Technologies by 47.9% in 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 last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Byrna Technologies by 145.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 76,202 shares of the company’s stock valued at $760,000 after acquiring an additional 45,118 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Byrna Technologies during the 2nd quarter valued at approximately $408,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Byrna Technologies by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 50,958 shares of the company’s stock worth $865,000 after purchasing an additional 2,021 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of 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. Institutional investors own 25.46% of the company’s stock.

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.