Byrna Technologies Inc.’s (NASDAQ: BYRN) short interest plunged dramatically in November. There were 538,500 shares with short interest out of the 603,900 shares as of October 31, a 10.8% reduction from the 538,500 shares total as of November 15. 3.1% of the stock is being sold short at this time. Based on an average daily volume of 88,300 shares, the short-interest ratio is currently 6.1 days.
Institutional holdings in BYRN have shifted recently, both favorably and unfavorably. During the first quarter, Amalgamated Bank invested an additional $25,000 in Byrna Technologies. Spartan Fund Management Inc. spent almost $43,000 more on more Byrna Technologies shares during the second quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Byrna Technologies by 10.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 24,048 shares valued at $113,000 after acquiring an additional 2,196 shares in the most recent quarter. Rhumbline Advisers boosted its stake in Byrna Technologies by 34.4% during the first quarter. Rhumbline Advisers now owns 16,877 shares, valued at $138,000, after acquiring 4,320 more shares in the last quarter (up from 14,717). Not to mention, Raymond James & Associates grew its stake in Byrna Technologies by 17.9% during the first quarter. Raymond James & Associates now directly owns 29,681 shares, worth $242,000, after acquiring an additional 4,508 shares over the past three months. Institutional and hedge fund investors currently hold 26.84% of the company’s shares.
Additionally, CEO Bryan Ganz bought 14,000 shares of company stock on October 6. The cost of the shares, or an average price of $5.14 per share, was $71,960.00. Following the successful transaction, the chief executive officer now directly controls 590,188 shares, with a market value of $3,033,566.32. Visit this link to see the SEC legal document where the acquisition was disclosed. In other developments, insider Michael Wager bought 20,000 company stock on Friday, October 7. The price paid for the shares was $102,200.00 in total or $5.11 per share on average. After the completion of the transaction, the insider now owns 40,000 company shares valued at $204,400. You can access the SEC legal filing where the acquisition was reported by clicking this link.
Additionally, on Thursday, October 6, CEO Bryan Ganz purchased 14,000 shares in a deal. The total cost of the acquisition was $71,960.00, with the average price paid for the shares being $5.14. The CEO now owns 590,188 company shares worth $3,033,566.32 due to the acquisition. The disclosure for this transaction can be read here. Over the previous ninety days, insiders bought 38,708 shares of the company’s stock for $199,159. Insiders own 6.39% of the company’s stock.
In trading on Friday, BYRN’s price rose $0.11 to $8.87. Rather than the typical 57,837 shares, just 55,139 shares of the company’s stock were traded. The fifty-day and 200-day moving averages for Byrna Technologies are $6.84 and $7.81, respectively. The company’s 52-week high and low are $16.16 and $4.50.
Byrna Technologies (NASDAQ: BYRN) published its most recent quarterly earnings report on Wednesday, October 5. Earnings per share for the quarter ($0.12) were $0.02 below expert expectations of $0.08 and $0.04 on October 5. Earnings per share for the quarter ($0.12) were $0.02 below expert expectations of $0.08 and $0.04. Byrna Technologies had a negative net margin of 25.38% and a negative return on equity of 16.19%. The company’s revenue for the quarter was $12.42 million, as opposed to analysts’ expectations of $12.39 million. Research analysts anticipate Byrna Technologies to post -0.27 earnings per share for the current fiscal year.
Recently, articles on BYRN were published by several research institutions. In a study released on September 8, Dawson James predicted that Byrna Technologies would cost $9.50 rather than $12.00. B. Riley lowered their “buy” rating and price target on Byrna Technologies from $19.00 to $16.00 in a report issued on October 6. Not to mention, Raymond James lowered its “strong-buy” rating and price objective for Byrna Technologies from $20.00 to $15.00 in research released on October 6.