Byrna Technologies (NASDAQ:BYRN) Sets New 1-Year High Following Earnings Beat

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) hit a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $33.94 and last traded at $31.61, with a volume of 204497 shares. The stock had previously closed at $29.64.

The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.12. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a "buy" rating and issued a $20.00 price target on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Byrna Technologies has a consensus rating of "Buy" and an average price target of $17.75.

Institutional Trading of Byrna Technologies

A number of hedge funds have recently added to or reduced their stakes in the stock. Archon Capital Management LLC purchased a new stake in shares of Byrna Technologies during the fourth quarter worth approximately $2,010,000. Raymond James Financial Inc. purchased a new position in Byrna Technologies during the 4th quarter worth $2,741,000. Invesco Ltd. lifted its stake in shares of Byrna Technologies by 72.4% in the 4th quarter. Invesco Ltd. now owns 697,655 shares of the company's stock worth $20,099,000 after acquiring an additional 293,049 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Byrna Technologies in the fourth quarter valued at about $29,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Byrna Technologies by 17.9% in the fourth quarter. Wells Fargo & Company MN now owns 11,180 shares of the company's stock valued at $322,000 after acquiring an additional 1,700 shares in the last quarter. 25.46% of the stock is owned by institutional investors and hedge funds.

Byrna Technologies Price Performance

The firm has a market capitalization of $734.74 million, a price-to-earnings ratio of 359.07 and a beta of 1.65. The business's 50 day moving average price is $27.93 and its 200-day moving average price is $19.46.

Byrna Technologies Company Profile

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.