Dawson James downgraded Byrna Technologies (BYRN) to Neutral from Buy with no price target as sales “plummeted” in fiscal Q3 to $7.1M, which is down from $11.5M in Q2 and $12.4M in the year-ago quarter. Advertising of the company’s self-defense products remains banned on the Meta (META) platforms and the impact has been “larger than anticipated,” says the firm, which thinks results are likely to be capitalized at lower multiples until the company “finds more reliable marketing partners.”
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Read More on BYRN:
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