Byrna Tech Stock Hits Over 3-Year Highs On Plans To Hike Launcher Production: Retail Joins The Party
By Stocktwits Inc | First Published Dec 17, 2024, 11:25 PM ISTThe company is also set to commence the production of its payload ammunition—including Byrna Pepper, Byrna Max, and Byrna Pro-Training rounds—at its new facility.
Shares of personal security solutions provider Byrna Technologies Inc (BYRN) rose over 3% on Tuesday after the company announced it plans to increase its launcher production by 33% to 24,000 units per month beginning Jan. 2025. The stock is currently trading at over three-year highs.
The firm specializes in developing, manufacturing, and selling innovative less-lethal personal security solutions.
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Byrne said the feat will be accomplished by implementing two full shifts, five days a week, at its Fort Wayne, Indiana, facility, with additional capacity available on Saturdays when needed.
The company is also set to commence the production of its payload ammunition—including Byrna Pepper, Byrna Max, and Byrna Pro-Training rounds—at its new facility.
Byrna said the expanded manufacturing capacity will allow it to better serve key U.S. markets, including law enforcement agencies such as those participating in Operation Lone Star along the Texas-Mexico border, where Byrna launchers are actively deployed.
Byrna CEO Bryan Ganz said that increasing U.S. launcher production and bringing ammunition manufacturing to the U.S. ensures the firm is well-positioned to meet rising demand.
“By bringing the production of 100% of the components that go into the Byrna Launchers to the U.S., we are creating well-paying jobs for American workers, reducing lead times, and eliminating the risks associated with unreliable foreign suppliers and geopolitical uncertainty,” he said.
The company also highlighted that with Donald Trump's election, it has accelerated its “Made in America” effort, and said it is committed to exiting China within the next six months and sourcing 100% of the components for the Byrna SD domestically by the end of 2025.
"Transitioning to U.S.-based suppliers will lead to higher margins for Byrna,” it said.
Following the development, retail sentiment jumped into the ‘extremely bullish’ territory (86/100) from ‘neutral’ a day ago, hitting an eight-month high. The move was accompanied by high message volume.
On a year-to-date basis, the stock has gained over 370%, significantly outperforming the benchmark U.S. indices.
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