Roth Capital analyst Matt Koranda lowered the firm’s price target on Byrna Technologies (BYRN) to $12.50 from $26 and keeps a Buy rating on the shares. The company’s Q1 sales were in line with its pre-announcement but profits came in light and margin was seemingly pressured by an unfavorable sales mix, the analyst tells investors in a research note. Byrna management is also telegraphing softness in the next few quarters as its new CEO works to adjust the company’s marketing and messaging to cater to a broader consumer cohort that is interested in personal protection, the firm added.
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