Byrna Technologies (NASDAQ:BYRN) Reaches New 52-Week High - Here's Why

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.89 and last traded at $25.17, with a volume of 59859 shares. The stock had previously closed at $24.67.

Analysts Set New Price Targets

Several research analysts have commented on BYRN shares. Roth Mkm reissued a "buy" rating and issued a $20.00 price target on shares of Byrna Technologies in a report on Wednesday, October 30th. Roth Capital raised Byrna Technologies to a "strong-buy" rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $17.75.

Byrna Technologies Trading Up 6.1 %

The stock's fifty day moving average price is $17.92 and its 200 day moving average price is $14.00. The stock has a market cap of $595.86 million, a P/E ratio of 290.92 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its earnings results on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. Byrna Technologies had a return on equity of 5.58% and a net margin of 3.12%. The business had revenue of $20.85 million for the quarter, compared to analysts' expectations of $20.82 million. On average, analysts anticipate that Byrna Technologies Inc. will post 0.19 earnings per share for the current year.

Insider Activity at Byrna Technologies

In other news, CEO Bryan Ganz sold 5,495 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $17.41, for a total transaction of $95,667.95. Following the transaction, the chief executive officer now directly owns 432,564 shares of the company's stock, valued at approximately $7,530,939.24. This trade represents a 1.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lisa Wager sold 2,450 shares of Byrna Technologies stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $17.01, for a total transaction of $41,674.50. Following the completion of the transaction, the insider now directly owns 224,555 shares in the company, valued at approximately $3,819,680.55. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,424 shares of company stock valued at $183,104. Corporate insiders own 11.08% of the company's stock.

Institutional Trading of Byrna Technologies

Several large investors have recently modified their holdings of the business. nVerses Capital LLC bought a new position in Byrna Technologies during the 3rd quarter valued at approximately $34,000. Quest Partners LLC bought a new position in shares of Byrna Technologies during the third quarter valued at approximately $46,000. Algert Global LLC purchased a new stake in Byrna Technologies in the second quarter worth $131,000. MetLife Investment Management LLC boosted its holdings in Byrna Technologies by 129.1% in the third quarter. MetLife Investment Management LLC now owns 10,756 shares of the company's stock valued at $183,000 after acquiring an additional 6,061 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Byrna Technologies by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 20,016 shares of the company's stock valued at $200,000 after purchasing an additional 2,976 shares during the period. 25.46% of the stock is owned by institutional investors.

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.