Byrna Technologies price target lowered to $7 from $9 at B. Riley

B. Riley lowered the firm’s price target on Byrna Technologies to $7 from $9 and keeps a Buy rating on the shares. The company’s Q3 results reflected the impact of a ban on advertising by Meta and Google in March, followed by Twitter two months later, and to a lesser extent, impact from reduced international sales to South Africa, Asia, and Latin America, the analyst tells investors in a research note. While acknowledging unknowns about the sustainability of positive early metrics from Byrna’s marketing shift, the firm says it cannot ignore the stock’s “depressed valuation.”