Byrna Technologies Inc. (NASDAQ:BYRN) Shares Shorted: Short Interest Up 93.5% in October

Byrna Technologies Inc. (NASDAQ:BYRN) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 2,024,506 shares, a growth of 93.5% from the September 30th total of 1,046,526 shares. Approximately 8.8% of the shares of the stock are short sold. Based on an average daily volume of 867,575 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analyst Weigh In

BYRN has been the subject of several recent analyst reports. B. Riley Financial reduced their price objective on shares of Byrna Technologies from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Roth Capital lowered shares of Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 target price on the stock. in a report on Friday, July 10th. Wall Street Zen upgraded shares of Byrna Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Craig Hallum reissued a “hold” rating and issued a $3.50 price target on shares of Byrna Technologies in a report on Friday, October 9th. Finally, Zacks Research raised shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $6.62.

Byrna Technologies Stock Down 4.2%

Shares of NASDAQ BYRN opened at $4.12 on Tuesday. The stock’s 50-day simple moving average is $3.99 and its two-hundred day simple moving average is $6.96. Byrna Technologies has a twelve month low of $3.16 and a twelve month high of $21.19. The firm has a market capitalization of $96.43 million, a P/E ratio of -10.30 and a beta of 1.70.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. The firm had revenue of $15.30 million during the quarter, compared to the consensus estimate of $16.27 million. As a group, research analysts anticipate that Byrna Technologies will post -0.65 EPS for the current fiscal year.

Insider Transactions at Byrna Technologies

In related news, Director Leonard Elmore bought 10,000 shares of the business’s stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $4.64 per share, for a total transaction of $46,400.00. Following the purchase, the director directly owned 60,811 shares in the company, valued at $282,163.04. This trade represents a 19.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adam L. Roth bought 10,000 shares of Byrna Technologies stock in a transaction on Thursday, October 15th. The shares were bought at an average cost of $4.77 per share, with a total value of $47,700.00. Following the acquisition, the director directly owned 19,379 shares in the company, valued at approximately $92,437.83. This represents a 106.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 25,000 shares of company stock worth $116,750 in the last three months. 1.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Byrna Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Emerald Mutual Fund Advisers Trust lifted its holdings in shares of Byrna Technologies by 184.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 320,151 shares of the company’s stock worth $2,939,000 after acquiring an additional 207,781 shares during the last quarter. Renaissance Technologies LLC increased its stake in Byrna Technologies by 496.5% in the first quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock valued at $3,510,000 after acquiring an additional 318,227 shares during the last quarter. Emerald Advisers LLC increased its stake in Byrna Technologies by 165.7% in the first quarter. Emerald Advisers LLC now owns 432,626 shares of the company’s stock valued at $3,972,000 after acquiring an additional 269,817 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Byrna Technologies by 9.5% during the first quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock valued at $2,659,000 after purchasing an additional 25,188 shares in the last quarter. Finally, Maverick Capital Ltd. raised its position in Byrna Technologies by 57.3% during the first quarter. Maverick Capital Ltd. now owns 18,430 shares of the company’s stock valued at $169,000 after purchasing an additional 6,715 shares in the last quarter. Hedge funds and other institutional investors own 25.46% of the company’s stock.

Byrna Technologies Company Profile

Byrna Technologies Inc is a developer and manufacturer of non-lethal personal security products. The company’s product portfolio is centered on compact, CO2-powered launchers designed to provide an alternative to traditional firearms for personal protection, home security and professional use.

Byrna offers launchers, projectiles and related accessories, including chemical-irritant, kinetic and training ammunition. Its products are marketed through direct-to-consumer and wholesale channels and are intended for consumers, private security personnel, law enforcement agencies and other professional users.

The company was previously known as Security Devices International before adopting the Byrna Technologies name.