Byrna Technologies Inc. (NASDAQ:BYRN) Short Interest Up 8.8% in December

Byrna Technologies Inc. (NASDAQ:BYRN) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 3,090,000 shares, a growth of 8.8% from the November 30th total of 2,840,000 shares. Based on an average trading volume of 588,500 shares, the days-to-cover ratio is presently 5.3 days. Approximately 17.8% of the shares of the company are short sold.

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 report on Wednesday, October 30th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Byrna Technologies presently has an average rating of “Buy” and an average target price of $17.75.

Byrna Technologies Price Performance

BYRN stock opened at $28.81 on Thursday. Byrna Technologies has a fifty-two week low of $5.36 and a fifty-two week high of $31.32. The stock has a market capitalization of $655.66 million, a price-to-earnings ratio of 320.15 and a beta of 1.80. The business’s fifty day moving average price is $20.91 and its two-hundred day moving average price is $15.37.

Byrna Technologies (NASDAQ:BYRN) last released 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 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%. Research analysts expect that Byrna Technologies will post 0.19 EPS for the current year.

Insider Buying and Selling

In related news, CFO Laurilee Kearnes bought 2,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was bought at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the purchase, the chief financial officer now owns 2,500 shares in the company, valued at $35,100. This represents a 400.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in Byrna Technologies by 47.9% during the third quarter. FMR LLC now owns 1,694,610 shares of the company’s stock worth $28,758,000 after buying an additional 548,670 shares in the last quarter. Millennium Management LLC grew 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 purchasing an additional 112,262 shares in the last quarter. State Street Corp increased its position in shares of Byrna Technologies by 36.9% in the third quarter. State Street Corp now owns 314,315 shares of the company’s stock worth $5,334,000 after purchasing an additional 84,723 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Byrna Technologies in the second quarter worth $2,693,000. Finally, Bank of New York Mellon Corp raised its stake in Byrna Technologies by 68.8% in the second quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock valued at $1,463,000 after purchasing an additional 59,738 shares in the last quarter. 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.