Byrna Technologies (NASDAQ:BYRN) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Byrna Technologies (NASDAQ:BYRN) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. Craig Hallum downgraded Byrna Technologies from a “buy” rating to a “hold” rating and set a $7.50 price target for the company. in a research note on Friday, April 10th. B. Riley Financial dropped their price objective on Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Roth Capital downgraded Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price objective for the company. in a report on Friday, July 10th. New Street Research set a $7.50 target price on shares of Byrna Technologies in a research note on Friday, April 10th. Finally, Texas Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a report on Tuesday, March 24th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Byrna Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.88.

Byrna Technologies Price Performance

Shares of NASDAQ:BYRN opened at $3.57 on Tuesday. The company’s 50-day moving average price is $5.68 and its two-hundred day moving average price is $9.59. Byrna Technologies has a one year low of $3.51 and a one year high of $30.62. The stock has a market capitalization of $81.01 million, a PE ratio of -19.83 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Thursday, July 9th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.34). The company had revenue of $16.39 million during the quarter, compared to the consensus estimate of $22.32 million. Byrna Technologies had a negative net margin of 3.39% and a negative return on equity of 5.85%. On average, analysts anticipate that Byrna Technologies will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its stake in Byrna Technologies by 89.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,215 shares of the company’s stock valued at $49,000 after acquiring an additional 1,047 shares during the period. Comerica Bank bought a new position in Byrna Technologies during the fourth quarter worth $40,000. NBC Securities Inc. boosted its position in Byrna Technologies by 226.4% during the fourth quarter. NBC Securities Inc. now owns 2,611 shares of the company’s stock worth $44,000 after purchasing an additional 1,811 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Byrna Technologies by 178.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,058 shares of the company’s stock valued at $94,000 after purchasing an additional 1,960 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Byrna Technologies in the third quarter valued at $70,000. 25.46% of the stock is currently owned by institutional investors.

Byrna Technologies Company Profile

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.