Byrna Technologies Inc. (NASDAQ:BYRN) Short Interest Up 15.3% in April

Byrna Technologies Inc. (NASDAQ:BYRN) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 931,600 shares, an increase of 15.3% from the March 31st total of 807,800 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 235,200 shares, the days-to-cover ratio is presently 4.0 days.

Insiders Place Their Bets

In other news, insider Herbert Hughes sold 5,229 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.03, for a total value of $62,904.87. Following the completion of the transaction, the insider now owns 137,416 shares of the company’s stock, valued at $1,653,114.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Byrna Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wealthspire Advisors LLC grew its position in Byrna Technologies by 3.7% in the 3rd quarter. Wealthspire Advisors LLC now owns 563,079 shares of the company’s stock valued at $1,261,000 after buying an additional 20,000 shares during the last quarter. M&T Bank Corp grew its position in Byrna Technologies by 48.2% in the 4th quarter. M&T Bank Corp now owns 166,042 shares of the company’s stock valued at $1,062,000 after buying an additional 54,028 shares during the last quarter. Federated Hermes Inc. grew its position in Byrna Technologies by 33.3% in the 3rd quarter. Federated Hermes Inc. now owns 160,000 shares of the company’s stock valued at $358,000 after buying an additional 40,000 shares during the last quarter. Raymond James & Associates boosted its position in shares of Byrna Technologies by 286.4% during the 4th quarter. Raymond James & Associates now owns 127,592 shares of the company’s stock worth $815,000 after purchasing an additional 94,575 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in shares of Byrna Technologies by 55.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 56,707 shares of the company’s stock worth $127,000 after purchasing an additional 20,138 shares in the last quarter. 25.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. TheStreet raised shares of Byrna Technologies from a “d+” rating to a “c-” rating in a research note on Thursday, March 7th. LADENBURG THALM/SH SH raised their price objective on shares of Byrna Technologies from $12.75 to $16.25 and gave the company a “buy” rating in a research note on Tuesday, April 9th. Finally, B. Riley reaffirmed a “buy” rating and issued a $17.00 target price (up previously from $14.00) on shares of Byrna Technologies in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.50.

Byrna Technologies Stock Down 5.7 %

NASDAQ:BYRN traded down $0.78 during mid-day trading on Monday, hitting $12.88. The stock had a trading volume of 252,158 shares, compared to its average volume of 206,303. The stock has a 50-day simple moving average of $12.92 and a two-hundred day simple moving average of $8.45. Byrna Technologies has a twelve month low of $2.19 and a twelve month high of $15.34.

Byrna Technologies (NASDAQ:BYRN) last posted its quarterly earnings data on Friday, April 5th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.12. Byrna Technologies had a negative net margin of 11.83% and a negative return on equity of 13.16%. The firm had revenue of $16.65 million for the quarter, compared to analyst estimates of $16.65 million. As a group, equities research analysts predict that Byrna Technologies will post -0.02 earnings per share for the current fiscal year.

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.