Byrna Technologies Executive Sells Over $41K in Company Stock

Corporate Secretary and Chief Governance Officer of Byrna Technologies Inc., Lisa Wager, recently sold shares in the company. On September 18, 2024, Wager sold 2,450 shares of common stock at prices ranging from $17.01 to $17.04, totaling $41,686. The weighted average price of the shares sold was $17.0147.

The sale was executed under a pre-arranged 10b5-1 trading plan, adopted on February 21, 2024. This plan permits company insiders to establish a predetermined schedule for buying or selling stocks when they do not possess non-public information. After the sale, Wager retains ownership of 224,555 shares of Byrna Technologies, indicating her ongoing commitment to the company’s future.

Byrna Technologies, recognized for its wide array of electrical machinery, equipment, and supplies, operates within the miscellaneous electrical machinery sector. The company is incorporated in Delaware and has a fiscal year ending on November 30, with its headquarters located in Andover, Massachusetts.

Investors and stakeholders can request comprehensive details about each of Wager’s transactions, as the company emphasizes transparency and open communication with its shareholders.

In recent developments, Byrna Technologies has reported strong financial performance, with Q3 sales reaching $20.8 million, marking a remarkable 194% increase year-over-year. This growth is attributed to solid performance across all markets and the impact of a celebrity endorsement program launched in September 2023.

Following these impressive results, B.Riley has raised the stock price target for Byrna Technologies from $20.00 to $25.00 while maintaining a Buy rating. Roth/MKM has also issued a Buy rating, underscoring the company’s potential in the non-lethal consumer self-defense market.

Furthermore, Byrna Technologies has initiated a $10 million stock repurchase program to enhance shareholder value, funded through its existing cash reserves and operational cash flow. Plans for expansion include opening company-owned retail stores and establishing a U.S.-based ammunition production facility. Although the launch of a smaller launcher has been delayed until the second half of 2025, Byrna is focused on increasing its market share among gun owners.

As insider transactions continue to shape the corporate governance landscape at Byrna Technologies, investors may seek insights into the company’s financial health and market performance. Byrna currently has a market capitalization of approximately $381.97 million, accompanied by a notably high price-to-book ratio of 7.9. This valuation indicates a premium on the company’s net asset value, which may attract value-focused investors.

Moreover, Byrna’s revenue has grown robustly by 23.34% over the past year, with impressive gross profit margins of 57.67%, suggesting effective management of costs. However, it’s important to note that the company’s P/E ratio is -128.28, which may indicate market expectations for future earnings growth or potential overvaluation.

Byrna Technologies holds more cash than debt, and net income is projected to grow this year, providing a positive outlook for the company’s financial trajectory. With the next earnings announcement scheduled for February 7, 2025, stakeholders will be eager to assess how these financial metrics and market anticipations align with the company’s performance. The recent insider sale, while notable, is just one factor to consider when evaluating Byrna Technologies’ future prospects.