TJ Kennedy, serving as Chairman of the Board at Byrna Technologies Inc. (NASDAQ:BYRN), executed a notable insider acquisition on July 22, 2026, purchasing 29,000 shares of common stock. The transaction, valued at $102,285, was completed at a price of $3.5271 per share. According to the filing, this acquisition was executed as a single transaction. Following this purchase, Mr. Kennedy's direct holdings in Byrna Technologies common stock stand at 29,000 shares.
This insider buying activity occurs against a backdrop of significant price weakness for the security. BYRN has traded near its 52-week low of $3.17, marking a substantial 86% decline over the past year. The timing of the purchase is particularly notable given the company's recent financial disclosures. In the second quarter of fiscal 2026, Byrna reported revenue of $16.39 million, a figure that fell short of the analyst forecast of $22.55 million. This represents a 42.5% decrease from the previous year, driven by weaker e-commerce sales and reduced reorder activity from dealers and chain stores. The company also reported an adjusted loss of $0.44 per share, which was significantly wider than the anticipated loss of $0.068 per share.
In response to these financial results, B. Riley lowered its price target for Byrna Technologies from $21.00 to $12.00. However, the firm maintained a Buy rating on the stock. The reduced target reflects concerns over the company's sales performance, particularly in its e-commerce segment. Amid these developments, Byrna Technologies announced the appointment of James White as Senior Vice President of Retail & Channel Growth. Mr. White will focus on overseeing retail and e-commerce sales channels, a strategic move potentially aimed at addressing the recent declines in these areas.