Byrna Technologies (NASDAQ:BYRN) Trading Down 12.9% – Time to Sell?

Byrna Technologies Inc. (NASDAQ:BYRN)’s share price fell 12.9% during trading on Thursday . The company traded as low as $28.34 and last traded at $27.97. 467,093 shares were traded during trading, a decline of 12% from the average session volume of 533,728 shares. The stock had previously closed at $32.10.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm restated a “buy” rating and set a $20.00 price objective 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.75.

Byrna Technologies Trading Down 2.3 %

The stock has a 50 day simple moving average of $29.30 and a 200 day simple moving average of $20.48. The stock has a market cap of $645.75 million, a P/E ratio of 52.80 and a beta of 1.65.

Byrna Technologies (NASDAQ:BYRN) last issued its quarterly earnings results on Friday, February 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. Byrna Technologies had a return on equity of 15.39% and a net margin of 14.92%. Equities analysts anticipate that Byrna Technologies Inc. will post 0.28 earnings per share for the current year.

Insider Activity

In related news, insider Luan Pham sold 33,483 shares of the firm’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $30.19, for a total transaction of $1,010,851.77. Following the sale, the insider now owns 19,148 shares of the company’s stock, valued at $578,078.12. This trade represents a 63.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lisa Wager sold 12,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $29.38, for a total value of $367,250.00. Following the sale, the insider now directly owns 212,055 shares in the company, valued at approximately $6,230,175.90. This trade 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 Investors Weigh In On Byrna Technologies

Several hedge funds have recently modified their holdings of the company. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Byrna Technologies by 0.3% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 106,735 shares of the company’s stock valued at $3,075,000 after acquiring an additional 355 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Byrna Technologies by 6.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,109 shares of the company’s stock valued at $234,000 after acquiring an additional 484 shares in the last quarter. Walleye Capital LLC boosted its holdings in shares of Byrna Technologies by 1.3% during the 3rd quarter. Walleye Capital LLC now owns 52,379 shares of the company’s stock valued at $889,000 after acquiring an additional 665 shares in the last quarter. Quarry LP acquired a new stake in shares of Byrna Technologies during the 4th quarter valued at $25,000. Finally, Russell Investments Group Ltd. acquired a new position in Byrna Technologies during the 4th quarter worth about $29,000. Institutional investors and hedge funds 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.