Byrna Technologies (NASDAQ:BYRN) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Byrna Technologies (NASDAQ:BYRN) to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

Separately, Roth Mkm initiated coverage on shares of Byrna Technologies in a research report on Wednesday. They set a buy rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $15.75.

Byrna Technologies Stock Up 2.6 %

Shares of NASDAQ:BYRN opened at $11.22 on Wednesday. Byrna Technologies has a twelve month low of $2.19 and a twelve month high of $15.34. The firm has a market capitalization of $255.56 million, a PE ratio of -80.14 and a beta of 1.69. The company has a 50-day moving average price of $9.95 and a two-hundred day moving average price of $11.56.

Byrna Technologies (NASDAQ:BYRN) last released its quarterly earnings results on Tuesday, July 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. The firm had revenue of $20.27 million during the quarter, compared to analyst estimates of $20.29 million. Byrna Technologies had a negative net margin of 4.74% and a negative return on equity of 6.34%. Analysts anticipate that Byrna Technologies will post -0.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently modified their holdings of BYRN. Algert Global LLC purchased a new position in shares of Byrna Technologies during the 2nd quarter worth approximately $131,000. Millennium Management LLC grew its position in shares of Byrna Technologies by 53.5% in 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 period. Squarepoint Ops LLC bought a new position in shares of Byrna Technologies in the 2nd quarter worth about $466,000. Cubist Systematic Strategies LLC lifted its position in Byrna Technologies by 145.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 76,202 shares of the company’s stock valued at $760,000 after acquiring an additional 45,118 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new stake in Byrna Technologies in the second quarter worth about $2,693,000. 25.46% of the stock is owned by institutional investors.

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.