Byrna Technologies Inc. (NASDAQ:BYRN) Sees Significant Increase in Short Interest

Byrna Technologies Inc. (NASDAQ:BYRN) was the recipient of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,910,000 shares, a growth of 57.9% from the June 30th total of 1,210,000 shares. Approximately 10.9% of the shares of the company are sold short. Based on an average daily trading volume, of 268,500 shares, the short-interest ratio is currently 7.1 days.

Insiders Place Their Bets

In other Byrna Technologies news, insider Lisa Wager sold 8,333 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $11.21, for a total value of $93,412.93. Following the sale, the insider now directly owns 257,887 shares of the company’s stock, valued at $2,890,913.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Lisa Wager sold 8,333 shares of Byrna Technologies stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $11.21, for a total transaction of $93,412.93. Following the sale, the insider now directly owns 257,887 shares in the company, valued at $2,890,913.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Herbert Hughes sold 8,836 shares of Byrna Technologies stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $11.16, for a total transaction of $98,609.76. Following the sale, the chairman now owns 128,589 shares in the company, valued at $1,435,053.24. The disclosure for this sale can be found here. Insiders have sold 25,502 shares of company stock valued at $292,019 over the last three months. Company insiders own 8.44% of the company’s stock.

Institutional Investors Weigh In On Byrna Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its stake in Byrna Technologies by 286.4% in 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. Bank of New York Mellon Corp increased its stake in Byrna Technologies by 68.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock worth $1,463,000 after purchasing an additional 59,738 shares in the last quarter. M&T Bank Corp increased its stake in Byrna Technologies by 48.2% in the 4th quarter. M&T Bank Corp now owns 166,042 shares of the company’s stock worth $1,062,000 after purchasing an additional 54,028 shares in the last quarter. Vanguard Group Inc. increased its stake in Byrna Technologies by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 800,051 shares of the company’s stock worth $11,145,000 after purchasing an additional 14,755 shares in the last quarter. Finally, Hamilton Wealth LLC purchased a new position in Byrna Technologies in the 1st quarter worth about $146,000. 25.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BYRN has been the topic of a number of recent analyst reports. LADENBURG THALM/SH SH lifted 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. B. Riley reiterated a “buy” rating and issued a $17.00 price target (up from $14.00) on shares of Byrna Technologies in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Byrna Technologies has a consensus rating of “Moderate Buy” and an average price target of $16.63.

Byrna Technologies Stock Up 3.3 %

Byrna Technologies stock traded up $0.31 during midday trading on Friday, hitting $9.75. The company’s stock had a trading volume of 200,834 shares, compared to its average volume of 408,007. The stock’s 50-day moving average price is $10.56 and its 200-day moving average price is $11.07. Byrna Technologies has a 12 month low of $2.19 and a 12 month high of $15.34. The company has a market capitalization of $222.11 million, a PE ratio of -69.64 and a beta of 1.69.

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.