Roth Capital Has Positive Forecast for BYRN FY2024 Earnings

Byrna Technologies Inc. (NASDAQ:BYRN - Free Report) - Equities researchers at Roth Capital increased their FY2024 earnings per share estimates for Byrna Technologies in a research report issued on Tuesday, December 10th. Roth Capital analyst M. Koranda now anticipates that the company will post earnings of $0.22 per share for the year, up from their prior estimate of $0.19. Roth Capital has a "Strong-Buy" rating on the stock. The consensus estimate for Byrna Technologies' current full-year earnings is $0.17 per share. Roth Capital also issued estimates for Byrna Technologies' Q4 2024 earnings at $0.08 EPS and FY2026 earnings at $0.30 EPS.

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

Byrna Technologies Price Performance

Shares of BYRN stock traded up $0.64 on Thursday, reaching $24.81. 504,161 shares of the company were exchanged, compared to its average volume of 338,690. The company has a 50-day moving average of $17.63 and a 200-day moving average of $13.79. The company has a market cap of $564.63 million, a price-to-earnings ratio of 275.67 and a beta of 1.80. Byrna Technologies has a one year low of $5.12 and a one year high of $25.49.

Byrna Technologies (NASDAQ:BYRN - Get Free Report) last issued its earnings results on Wednesday, October 9th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business 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%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BYRN. FMR LLC increased its stake in Byrna Technologies by 47.9% in the 3rd quarter. FMR LLC now owns 1,694,610 shares of the company's stock valued at $28,758,000 after buying an additional 548,670 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Byrna Technologies in the second quarter valued at approximately $2,693,000. Millennium Management LLC increased its position 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 acquiring an additional 112,262 shares during the last quarter. State Street Corp lifted its holdings in Byrna Technologies by 36.9% during the third quarter. State Street Corp now owns 314,315 shares of the company's stock worth $5,334,000 after acquiring an additional 84,723 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Byrna Technologies in the second quarter worth $786,000. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Byrna Technologies news, insider Lisa Wager sold 2,450 shares of the firm's 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 transaction, the insider now directly owns 224,555 shares in the company, valued at approximately $3,819,680.55. This trade represents a 1.08 % 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, CEO Bryan Ganz sold 5,495 shares of Byrna Technologies stock in a transaction on 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 in the company, valued at $7,530,939.24. This represents a 1.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,424 shares of company stock worth $183,104 over the last three months. 11.08% of the stock is currently owned by insiders.

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.