Byrna Technologies (NASDAQ:BYRN) Shares Down 12.9% - Here's Why

Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report)'s share price dropped 12.9% on Thursday . The company traded as low as $28.34 and last traded at $27.97. Approximately 467,093 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 533,728 shares. The stock had previously closed at $32.10.

Analyst Ratings Changes

Separately, Roth Mkm reiterated a "buy" rating and issued a $20.00 price objective on shares of Byrna Technologies in a research report on Wednesday, October 30th. Three 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 currently has an average rating of "Buy" and an average target price of $17.75.

Byrna Technologies Stock Down 2.3 %

The business's 50-day simple moving average is $29.30 and its two-hundred day simple moving average is $20.48. The firm has a market cap of $645.75 million, a price-to-earnings ratio of 52.80 and a beta of 1.65.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last released its earnings results on Friday, February 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.12. Byrna Technologies had a net margin of 14.92% and a return on equity of 15.39%. On average, analysts expect that Byrna Technologies Inc. will post 0.28 earnings per share for the current year.

Insider Transactions at Byrna Technologies

In related news, insider Luan Pham sold 33,483 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $30.19, for a total transaction of $1,010,851.77. Following the completion of the sale, the insider now owns 19,148 shares of the company's stock, valued at approximately $578,078.12. This represents a 63.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lisa Wager sold 12,500 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $29.38, for a total transaction of $367,250.00. Following the sale, the insider now directly owns 212,055 shares of the company's stock, valued at approximately $6,230,175.90. This represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.08% of the company's stock.

Institutional Trading of Byrna Technologies

Hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Byrna Technologies in the 4th quarter valued at approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $29,000. Global Retirement Partners LLC acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $30,000. NCP Inc. acquired a new position in shares of Byrna Technologies in the 4th quarter worth approximately $37,000. Finally, Quest Partners LLC acquired a new position in shares of Byrna Technologies in the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 25.46% of the company's stock.

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.