Byrna Technologies Inc. (NASDAQ:BYRN) Short Interest Up 10.1% in October

Byrna Technologies Inc. (NASDAQ:BYRN) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 2,390,000 shares, an increase of 10.1% from the September 30th total of 2,170,000 shares. Currently, 13.5% of the company’s shares are sold short. Based on an average trading volume of 466,300 shares, the days-to-cover ratio is presently 5.1 days.

Insider Buying and Selling

In other news, CFO Laurilee Kearnes acquired 2,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were purchased at an average price of $14.04 per share, for a total transaction of $28,080.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $35,100. The trade was a 400.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Laurilee Kearnes acquired 2,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was acquired at an average cost of $14.04 per share, for a total transaction of $28,080.00. Following the acquisition, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $35,100. This trade represents a 400.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lisa Wager sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $13.50, for a total value of $270,000.00. Following the transaction, the insider now owns 229,555 shares in the company, valued at $3,098,992.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,416 shares of company stock worth $820,581 in the last ninety days. 11.08% of the stock is owned by insiders.

Hedge Funds Weigh In On Byrna Technologies

A number of hedge funds have recently modified their holdings of BYRN. Vanguard Group Inc. grew its holdings in Byrna Technologies by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 800,051 shares of the company’s stock valued at $11,145,000 after buying an additional 14,755 shares in the last quarter. Wealthspire Advisors LLC lifted its position in Byrna Technologies by 1.8% in the first quarter. Wealthspire Advisors LLC now owns 553,079 shares of the company’s stock worth $7,704,000 after buying an additional 10,000 shares during the last quarter. Millennium Management LLC lifted its holdings 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 acquiring an additional 112,262 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of Byrna Technologies during the second quarter valued at approximately $2,693,000. Finally, Bank of New York Mellon Corp boosted its holdings in Byrna Technologies by 68.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 146,607 shares of the company’s stock valued at $1,463,000 after acquiring an additional 59,738 shares during the period. 25.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BYRN shares. Roth Mkm upped their price target on Byrna Technologies from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Roth Capital upgraded shares of Byrna Technologies to a “strong-buy” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $17.75.

Byrna Technologies Stock Performance

Shares of NASDAQ BYRN traded up $0.48 during trading on Tuesday, hitting $15.41. The company had a trading volume of 484,426 shares, compared to its average volume of 308,643. The stock has a 50 day simple moving average of $14.88 and a 200 day simple moving average of $12.44. The firm has a market capitalization of $350.73 million, a P/E ratio of 165.91 and a beta of 1.69. Byrna Technologies has a 12 month low of $4.18 and a 12 month high of $19.42.

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.