What Happened?
Shares of non-lethal weapons company Byrna (NASDAQ: BYRN) fell 5.5% in the afternoon session after the company's stock fell amid a broader market downturn triggered by hotter-than-expected inflation data.
The U.S. Bureau of Labor Statistics reported that the producer price index, a measure of wholesale inflation, rose 0.5% in January, surpassing the 0.3% that was forecast. The core figure, which strips out food and energy costs, also accelerated. This data sparked concerns among investors about persistent inflation, leading to a widespread sell-off in equities. Major indices felt the pressure, with the S&P 500 and the tech-heavy Nasdaq Composite both finishing the day with losses.
The shares closed the day at $12.79, down 4.5% from previous close.
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What Is The Market Telling Us
Byrna’s shares are extremely volatile and have had 55 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 22 days ago when the stock gained 15.1% on the news that the company reported calendar fourth-quarter 2025 results, with revenue that narrowly beat Wall Street's expectations. For the quarter, revenue grew 26% year-over-year to $35.25 million, just ahead of consensus estimates. The company's earnings per share of $0.14 was in line with projections. However, the report presented a mixed picture for investors. Adjusted EBITDA slightly missed analyst forecasts, and the company's operating margin contracted to 11.2% from 14.6% in the same period last year, suggesting a decrease in efficiency as expenses outpaced revenue growth.
Byrna is down 21.1% since the beginning of the year, and at $13.19 per share, it is trading 60.7% below its 52-week high of $33.56 from July 2025. Investors who bought $1,000 worth of Byrna’s shares 5 years ago would now be looking at an investment worth $890.88.
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