Byrna Technologies Inc. (NASDAQ:BYRN) is among the 10 Best Small Cap Defense Stocks to Buy According to Hedge Funds. The company manufactures less-lethal equipment and munitions for personal security, private security firms, and law enforcement agencies.
A military personnel in gear next to a shoulder-fired launcher, representing the company's less-lethal defense technology.
In March of this year, the firm announced the opening of its ammunition manufacturing facility in the United States, located in Fort Wayne, Indiana, just five miles from its launcher production facility. The expansion has advanced Byrna Technologies Inc. (NASDAQ:BYRN)’s transition to domestic manufacturing. It also positions the company well to meet growing demand, given the facility’s capacity to produce 8 million rounds of its proprietary less-lethal ammunition per annum.
On July 10, Byrna Technologies Inc. (NASDAQ:BYRN) announced strong results for the second quarter of fiscal 2025, with revenue climbing 41% year-over-year to a record $28.5 million, driven by the launch of the new Compact Launcher (CL), broader brand adoption, and increased dealer and chain store sales. Net income was posted at $2.4 million, up 14% from the prior year’s period.
Despite the robust results, Byrna Technologies Inc. (NASDAQ:BYRN)’s shares plunged by 29% in the five days following the earnings call. The significant dip suggests a ‘sell the news’ reaction from investors, who sold the stock, believing that the results may have been priced into its share price.
Byrna Technologies Inc. (NASDAQ:BYRN)’s shares have been volatile in 2025. While the stock is down 20% YTD, it had an impressive run between April and July, nearly doubling during the period.
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