Byrna Technologies (NASDAQ:BYRN) Stock Price Up 5.3% - Here's Why

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report)'s stock price shot up 5.3% during mid-day trading on Friday . The company traded as high as $30.46 and last traded at $29.82. 30,208 shares changed hands during trading, a decline of 86% from the average session volume of 214,587 shares. The stock had previously closed at $28.32.

Analyst Ratings Changes

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

Byrna Technologies Stock Up 6.0 %

The firm has a market cap of $682.97 million, a price-to-earnings ratio of 333.48 and a beta of 1.80. The business has a 50 day moving average price of $21.46 and a 200-day moving average price of $15.55.

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

Insider Buying and Selling at Byrna Technologies

In other Byrna Technologies news, CFO Laurilee Kearnes bought 2,000 shares of Byrna Technologies stock in a transaction dated Thursday, October 10th. The stock was bought at an average cost of $14.04 per share, for a total transaction of $28,080.00. Following the purchase, the chief financial officer now owns 2,500 shares in the company, valued at $35,100. This represents a 400.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 11.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BYRN. FMR LLC boosted its holdings in Byrna Technologies by 47.9% in the third quarter. FMR LLC now owns 1,694,610 shares of the company's stock worth $28,758,000 after purchasing an additional 548,670 shares during the period. Millennium Management LLC increased its holdings in shares of Byrna Technologies by 53.5% during the second quarter. Millennium Management LLC now owns 321,915 shares of the company's stock valued at $3,213,000 after purchasing an additional 112,262 shares during the period. State Street Corp raised its stake in shares of Byrna Technologies by 36.9% during the third quarter. State Street Corp now owns 314,315 shares of the company's stock valued at $5,334,000 after purchasing an additional 84,723 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in Byrna Technologies in the second quarter worth about $2,693,000. Finally, Bank of New York Mellon Corp increased its stake in Byrna Technologies by 68.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company's stock valued at $1,463,000 after buying an additional 59,738 shares during the period. 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.