Byrna Technologies (NASDAQ:BYRN) Raised to Sell at Wall Street Zen

by · The Cerbat Gem

Byrna Technologies (NASDAQ:BYRN – Get Free Report) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

BYRN has been the subject of several other research reports. Craig Hallum reiterated a “hold” rating and issued a $3.50 target price on shares of Byrna Technologies in a research note on Friday. B. Riley Financial dropped their price target on shares of Byrna Technologies from $21.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Zacks Research raised shares of Byrna Technologies from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Roth Capital cut shares of Byrna Technologies from a “buy” rating to a “neutral” rating and set a $4.50 price target on the stock. in a report on Friday, July 10th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.88.

Check Out Our Latest Stock Report on BYRN

Byrna Technologies Stock Performance

NASDAQ BYRN opened at $4.52 on Friday. The firm has a market capitalization of $105.81 million, a P/E ratio of -11.30 and a beta of 1.70. The business has a fifty day simple moving average of $3.84 and a 200 day simple moving average of $5.22. Byrna Technologies has a 12 month low of $3.16 and a 12 month high of $30.62.

Byrna Technologies (NASDAQ:BYRN – Get Free Report) last issued its quarterly earnings data on Thursday, October 8th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $15.30 million for the quarter, compared to analysts’ expectations of $16.27 million. Byrna Technologies had a negative return on equity of 14.46% and a negative net margin of 9.20%. As a group, sell-side analysts predict that Byrna Technologies will post -0.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Byrna Technologies news, CEO Conn Q. Davis acquired 18,768 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were acquired at an average price of $3.46 per share, with a total value of $64,937.28. Following the completion of the transaction, the chief executive officer owned 18,768 shares in the company, valued at approximately $64,937.28. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Chris Reed acquired 8,150 shares of Byrna Technologies stock in a transaction on Friday, July 24th. The stock was acquired at an average price of $3.63 per share, with a total value of $29,584.50. Following the purchase, the director directly owned 61,720 shares in the company, valued at approximately $224,043.60. This trade represents a 15.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 71,258 shares of company stock valued at $261,855. Insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Several large investors have recently made changes to their positions in BYRN. Emerald Advisers LLC raised its position in Byrna Technologies by 165.7% in the first quarter. Emerald Advisers LLC now owns 432,626 shares of the company’s stock worth $3,972,000 after acquiring an additional 269,817 shares during the period. Renaissance Technologies LLC boosted 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 Mutual Fund Advisers Trust boosted its stake 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 valued at $2,939,000 after acquiring an additional 207,781 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Byrna Technologies by 9.5% in the first quarter. Dimensional Fund Advisors LP now owns 289,720 shares of the company’s stock valued at $2,659,000 after acquiring an additional 25,188 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Byrna Technologies by 9.0% in the second quarter. Squarepoint Ops LLC now owns 51,696 shares of the company’s stock valued at $347,000 after acquiring an additional 4,254 shares during the last quarter. 25.46% of the stock is owned by hedge funds and other institutional investors.

Key Byrna Technologies News

Here are the key news stories impacting Byrna Technologies this week:

  • Positive Sentiment: EPS beat expectations: Byrna reported a loss of $0.13 per share, better than the consensus estimate of a $0.16 loss. The company also reported a 79% gross margin, helped by a one-time $2.3 million tariff refund. Byrna Technologies earnings report
  • Positive Sentiment: Inventory reduction and insider buying provide support: Management is targeting a $2 million to $3 million inventory reduction in the fourth quarter. Separately, reported insider activity showed purchases and no sales over the past six months, which may signal management confidence. Byrna inventory and margin update
  • Neutral Sentiment: Acquisition adds potential but execution risk: Byrna completed its acquisition of HERO Defense Systems during the quarter. The deal could broaden its product offering, but investors will watch whether it contributes enough revenue to offset current weakness.
  • Negative Sentiment: Revenue and profitability deteriorated sharply: Third-quarter revenue fell to $15.3 million from $28.2 million a year earlier and missed analyst expectations of $16.27 million. Byrna posted a $2.9 million net loss versus $2.2 million of net income in the prior-year quarter, while operating expenses increased 7% to $15.1 million. Cash and marketable securities totaled only $9.4 million, increasing concern about financial flexibility. Byrna fiscal third-quarter results
  • Negative Sentiment: Investor sentiment remains mixed: Reports indicated that the stock weakened after the revenue miss and expanding loss. The supplied short-interest update lists zero shares short, despite describing a significant increase, suggesting the data may be inconsistent and should not be treated as a reliable bullish or bearish signal.

About Byrna Technologies

(Get Free Report)

Byrna Technologies Inc is a personal-security company that develops and sells less-lethal protection products for consumers, security professionals and law enforcement agencies. The company’s product portfolio is centered on handheld launchers designed to provide an alternative to conventional firearms for personal protection and other security applications.

Byrna’s products include compact launchers, projectiles and related accessories. Its ammunition offerings include chemical-irritant rounds, kinetic-impact rounds and inert training rounds, while its product line also includes replacement parts, holsters, storage products and other accessories.

Further Reading