Byrna Technologies (NASDAQ:BYRN) Stock Price Down 4.4% - Here's What Happened

Shares of Byrna Technologies Inc. (NASDAQ:BYRN - Get Free Report) were down 4.4% during trading on Tuesday . The stock traded as low as $28.00 and last traded at $28.90. Approximately 183,215 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 347,438 shares. The stock had previously closed at $30.24.

Wall Street Analyst Weigh In

Separately, Roth Mkm reissued a "buy" rating and set a $20.00 price objective on shares of Byrna Technologies in a research note on Wednesday, October 30th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Byrna Technologies currently has an average rating of "Buy" and a consensus price target of $17.75.

Byrna Technologies Stock Performance

The business has a 50-day moving average of $20.65 and a 200 day moving average of $15.24. The stock has a market cap of $655.66 million, a PE ratio of 320.15 and a beta of 1.80.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 9th. The company reported $0.04 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05. The business had revenue of $20.85 million during the quarter, compared to the consensus estimate of $20.82 million. Byrna Technologies had a net margin of 3.12% and a return on equity of 5.58%. Equities analysts expect that Byrna Technologies Inc. will post 0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Byrna Technologies news, CFO Laurilee Kearnes acquired 2,000 shares of the firm's stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,500 shares of the company's stock, valued at $35,100. This trade represents a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 11.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Byrna Technologies

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew 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 valued at $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 2nd quarter. Millennium Management LLC now owns 321,915 shares of the company's stock worth $3,213,000 after buying an additional 112,262 shares during the last quarter. State Street Corp increased its holdings in shares of Byrna Technologies by 36.9% during the 3rd quarter. State Street Corp now owns 314,315 shares of the company's stock worth $5,334,000 after buying an additional 84,723 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of Byrna Technologies during the 2nd quarter worth $2,693,000. Finally, Bank of New York Mellon Corp raised its position in shares of Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company's stock worth $1,463,000 after buying an additional 59,738 shares during the period. 25.46% of the stock is currently owned by institutional investors and hedge funds.

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.