Conn Q. Davis, the Chief Executive Officer of Byrna Technologies Inc. (NASDAQ:BYRN), has recently increased his direct ownership in the company through a series of common stock acquisitions. The transactions, totaling $77,002, took place on July 22 and July 23, 2026. These purchases come at a time when the company's stock is trading near its 52-week low of $3.17, reflecting an 86% decline over the past year. According to InvestingPro analysis, the stock appears undervalued at these current levels, a factor that may have influenced the CEO's decision to expand his stake.
On July 22, Mr. Davis acquired 18,767.9201 shares of common stock. The reported price for this transaction was a volume-weighted average of $3.4614 per share, with individual purchases ranging from $3.4097 to $3.5298. The following day, July 23, an additional 3,430 shares were purchased at a price of $3.51 per share. Following these acquisitions, Mr. Davis directly holds 22,107.9201 shares of Byrna Technologies common stock.
The executive's purchases follow a period of challenging financial results for Byrna Technologies. The company reported disappointing financial outcomes for the second quarter of 2026, marked by a significant decline in revenue. Byrna posted revenue of $16.4 million, which fell short of B.Riley's estimate of $22.5 million and the consensus forecast of $22.3 million. This represented a 42.5% decrease from the previous year. The decline was attributed to weaker e-commerce sales, a 19% reduction in the average customer purchase value, and reduced reorder activity from dealers and chain stores.
Furthermore, Byrna Technologies posted an adjusted loss of $0.44 per share, significantly missing analysts' expectations of a $0.068 loss per share. In light of these results, B.Riley adjusted its price target for Byrna Technologies from $21.00 to $12.00 while maintaining a Buy rating.
In other recent developments, Byrna Technologies announced the appointment of James White as Senior Vice President of Retail & Channel Growth. Mr. White will oversee retail and e-commerce sales channels, reflecting the company's strategic focus on leadership changes amidst its current challenges. For investors seeking deeper insights into BYRN's valuation and prospects, InvestingPro offers 16 additional ProTips and comprehensive analysis through its detailed Pro Research Report, available for this and 1,400+ other US equities.