Byrna Technologies (NASDAQ:BYRN) Stock Price Breaks Above Fifty Day Moving Average – Should You Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s stock price crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $4.03 and traded as high as $4.19. Byrna Technologies shares last traded at $4.16, with a volume of 191,749 shares changing hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. B. Riley Financial lowered their price objective on Byrna Technologies from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Wall Street Zen upgraded Byrna Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Zacks Research raised shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Craig Hallum reissued a “hold” rating and set a $3.50 price target on shares of Byrna Technologies in a report on Friday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Byrna Technologies has a consensus rating of “Moderate Buy” and an average target price of $6.62.

Byrna Technologies Stock Performance

The stock has a market cap of $97.39 million, a P/E ratio of -10.40 and a beta of 1.81. The firm has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $6.59.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Thursday, October 8th. The company reported ($0.13) 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 company had revenue of $15.30 million for the quarter, compared to analyst estimates of $16.27 million. As a group, equities research analysts predict that Byrna Technologies Inc. will post -0.65 EPS for the current year.

Insider Buying and Selling

In related news, Director Adam L. Roth bought 10,000 shares of the stock in a transaction on Thursday, October 15th. The shares were purchased at an average price of $4.77 per share, with a total value of $47,700.00. Following the purchase, the director 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 purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Emerald Advisers LLC increased its stake in shares of Byrna Technologies by 165.7% during 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 period. Renaissance Technologies LLC lifted its position in Byrna Technologies by 496.5% in the first quarter. Renaissance Technologies LLC now owns 382,327 shares of the company’s stock worth $3,510,000 after purchasing an additional 318,227 shares during the period. Emerald Mutual Fund Advisers Trust lifted its position in Byrna Technologies by 184.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 320,151 shares of the company’s stock worth $2,939,000 after purchasing an additional 207,781 shares during the period. Dimensional Fund Advisors LP lifted its position in Byrna Technologies by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock worth $2,659,000 after purchasing an additional 25,188 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in Byrna Technologies by 125.7% during the 1st quarter. Quantinno Capital Management LP now owns 43,340 shares of the company’s stock valued at $398,000 after purchasing an additional 24,141 shares in the last quarter. 25.46% of the stock is currently owned by institutional investors.

About Byrna Technologies

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.