What Happened?
Shares of non-lethal weapons company Byrna (NASDAQ: BYRN) jumped 4% in the morning session after the company announced preliminary record revenue for its fiscal third quarter ended August 31, 2025.
The personal security device maker expects to report total revenue of $28.2 million, a significant 35% increase from the $20.9 million recorded in the same period last year. According to the company's press release, this record-setting performance was primarily driven by strong sales through its dealer and chain store channels. Byrna also noted that it saw year-over-year growth across every segment of its business. CEO Bryan Ganz credited an "innovative AI-supported marketing approach" for a sales spike toward the end of August, which dramatically expanded the company's consumer reach.
After the initial pop the shares cooled down to $20.81, up 2.6% from previous close.
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What Is The Market Telling Us
Byrna’s shares are extremely volatile and have had 73 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 6 days ago when the stock gained 4.8% on the news that an analyst at B. Riley maintained a 'Buy' rating and a $46 price target on the stock, despite lowering their earnings forecast for fiscal year 2025. The analyst trimmed the firm's fiscal year 2025 earnings per share (EPS) estimate to $0.32 from a previous $0.37. However, investors likely focused on the fact that this revised forecast remains above the consensus Wall Street estimate of $0.28 per share for the year. The maintained 'Buy' rating and significant price objective suggest continued confidence from the firm. Adding to the long-term positive outlook, B. Riley also initiated coverage for fiscal year 2026 with an earnings estimate of $0.47 per share, pointing to expectations of future growth.
Byrna is down 26.5% since the beginning of the year, and at $20.81 per share, it is trading 39.1% below its 52-week high of $34.19 from February 2025. Investors who bought $1,000 worth of Byrna’s shares 5 years ago would now be looking at an investment worth $1,151.
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