B. Riley Financial Lowers Byrna Technologies (NASDAQ:BYRN) Price Target to $31.00

Byrna Technologies (NASDAQ:BYRN) had its price objective cut by stock analysts at B. Riley Financial from $46.00 to $31.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price target indicates a potential upside of 203.18% from the company’s previous close.

Separately, Zacks Research cut shares of Byrna Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $36.67.

Byrna Technologies Price Performance

BYRN stock opened at $10.23 on Tuesday. The stock has a market capitalization of $231.80 million, a price-to-earnings ratio of 25.66 and a beta of 2.30. Byrna Technologies has a fifty-two week low of $10.42 and a fifty-two week high of $34.30. The business has a fifty day moving average price of $14.59 and a 200 day moving average price of $17.97.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $35.25 million during the quarter, compared to analysts’ expectations of $34.92 million. Byrna Technologies had a return on equity of 16.14% and a net margin of 8.20%. On average, equities analysts expect that Byrna Technologies will post 0.28 earnings per share for the current fiscal year.

Institutional Trading of Byrna Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Connective Capital Management LLC bought a new position in shares of Byrna Technologies during the fourth quarter valued at $650,000. Millennium Management LLC increased its position in shares of Byrna Technologies by 32.7% during the fourth quarter. Millennium Management LLC now owns 893,268 shares of the company’s stock worth $14,998,000 after buying an additional 220,130 shares during the period. ArrowMark Colorado Holdings LLC boosted its position in Byrna Technologies by 44.0% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 400,420 shares of the company’s stock valued at $6,723,000 after acquiring an additional 122,409 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Byrna Technologies by 17.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,304 shares of the company’s stock worth $190,000 after purchasing an additional 1,660 shares during the period. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Byrna Technologies by 2,289.8% during the 4th quarter. Russell Investments Group Ltd. now owns 52,933 shares of the company’s stock worth $889,000 after buying an additional 50,718 shares in the last quarter. Institutional investors and hedge funds own 25.46% of the company’s stock.

About Byrna Technologies

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.