Byrna Technologies (NASDAQ:BYRN) Lifted to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Byrna Technologies (NASDAQ:BYRN) to a strong-buy rating in a research note published on Wednesday morning, Zacks.com reports. Roth Capital also issued estimates for Byrna Technologies’ Q3 2024 earnings at ($0.02) EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.11 EPS, Q1 2025 earnings at $0.02 EPS, Q2 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.07 EPS, FY2025 earnings at $0.21 EPS and FY2026 earnings at $0.23 EPS.

Separately, Roth Mkm initiated coverage on shares of Byrna Technologies in a research note on Wednesday. They issued a buy rating and a $14.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Byrna Technologies has an average rating of Moderate Buy and a consensus price target of $15.75.

Byrna Technologies Stock Up 1.0 %

Shares of Byrna Technologies stock opened at $11.59 on Wednesday. The company has a market capitalization of $263.99 million, a price-to-earnings ratio of -82.79 and a beta of 1.69. Byrna Technologies has a 12-month low of $2.19 and a 12-month high of $15.34. The firm’s 50-day moving average price is $10.00 and its two-hundred day moving average price is $11.57.

Byrna Technologies (NASDAQ:BYRN) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.10. The firm had revenue of $20.27 million for the quarter, compared to the consensus estimate of $20.29 million. Byrna Technologies had a negative net margin of 4.74% and a negative return on equity of 6.34%. On average, sell-side analysts expect that Byrna Technologies will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BYRN. M&T Bank Corp raised its holdings in Byrna Technologies by 48.2% in the 4th quarter. M&T Bank Corp now owns 166,042 shares of the company’s stock valued at $1,062,000 after buying an additional 54,028 shares during the last quarter. Spartan Fund Management Inc. bought a new position in Byrna Technologies in the 4th quarter valued at approximately $32,000. Wealthspire Advisors LLC raised its holdings in Byrna Technologies by 1.8% in the 1st quarter. Wealthspire Advisors LLC now owns 553,079 shares of the company’s stock valued at $7,704,000 after buying an additional 10,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in Byrna Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 800,051 shares of the company’s stock valued at $11,145,000 after buying an additional 14,755 shares during the last quarter. Finally, Hamilton Wealth LLC bought a new position in Byrna Technologies in the 1st quarter valued at approximately $146,000. Institutional investors own 25.46% of the company’s stock.

About Byrna Technologies

Byrna Technologies Inc, a non-lethal defense technology company, provides non-lethal alternative solutions for law enforcement and private security. The company offers handheld personal security devices and shoulder-fired launchers without the need for background check or firearm license; and projectiles including chemical irritant, kinetic, and inert rounds.