Herbert Hughes Takes Money Off The Table, Sells $100K In Byrna Technologies Stock
On November 20, a recent SEC filing unveiled that Herbert Hughes, Board Member at Byrna Technologies BYRN made an insider sell.
What Happened: Hughes’s recent move involves selling 5,000 shares of Byrna Technologies. This information is documented in a Form 4 filing with the U.S. Securities and Exchange Commission on Wednesday. The total value is $100,376.
During Wednesday’s morning session, Byrna Technologies shares up by 0.19%, currently priced at $21.38.
Delving into Byrna Technologies’s Background
Byrna Technologies Inc is a designer, manufacturer, retailer and distributor of technological solutions for security situations that do not require the use of lethal force. The company generates its revenue from the United States, South Africa, Europe, South America, Asia and Canada.
Byrna Technologies: Delving into Financials
Revenue Growth: Over the 3 months period, Byrna Technologies showcased positive performance, achieving a revenue growth rate of 194.34% as of 31 August, 2024. This reflects a substantial increase in the company’s top-line earnings. When compared to others in the Industrials sector, the company excelled with a growth rate higher than the average among peers.
Holistic Profitability Examination:
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Gross Margin: The company excels with a remarkable gross margin of 62.4%, indicating superior cost efficiency and profitability compared to its industry peers.
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Earnings per Share (EPS): Byrna Technologies’s EPS is below the industry average. The company faced challenges with a current EPS of 0.05. This suggests a potential decline in earnings.
Debt Management: Byrna Technologies’s debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.06.
Understanding Financial Valuation:
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Price to Earnings (P/E) Ratio: With a higher-than-average P/E ratio of 194.0, Byrna Technologies’s stock is perceived as being overvalued in the market.
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Price to Sales (P/S) Ratio: A higher-than-average P/S ratio of 6.63 suggests overvaluation in the eyes of investors, considering sales performance.
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EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation & Amortization): A high EV/EBITDA ratio of 146.15 reflects market recognition of Byrna Technologies’s value, positioning it as more highly valued compared to industry peers.
Market Capitalization Perspectives: The company’s market capitalization falls below industry averages, signaling a relatively smaller size compared to peers. This positioning may be influenced by factors such as perceived growth potential or operational scale.
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The Importance of Insider Transactions
Insider transactions contribute to decision-making but should be supplemented by a comprehensive investment analysis.
Considering the legal perspective, an “insider” is defined as any officer, director, or beneficial owner holding more than ten percent of a company’s equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider’s new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
Important Transaction Codes
Delving into transactions, investors typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
Check Out The Full List Of Byrna Technologies’s Insider Trades.
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This article was generated by Benzinga’s automated content engine and reviewed by an editor.
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Decoding Amgen's Options Activity: What's the Big Picture?
Financial giants have made a conspicuous bullish move on Amgen. Our analysis of options history for Amgen AMGN revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $172,165, and 4 were calls, valued at $144,495.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $280.0 and $350.0 for Amgen, spanning the last three months.
Analyzing Volume & Open Interest
In today’s trading context, the average open interest for options of Amgen stands at 1066.0, with a total volume reaching 267.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Amgen, situated within the strike price corridor from $280.0 to $350.0, throughout the last 30 days.
Amgen Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMGN | PUT | TRADE | BULLISH | 12/20/24 | $22.0 | $21.4 | $21.55 | $292.50 | $60.3K | 70 | 51 |
| AMGN | PUT | SWEEP | BEARISH | 12/20/24 | $21.8 | $21.4 | $21.5 | $292.50 | $45.1K | 70 | 51 |
| AMGN | CALL | SWEEP | BEARISH | 12/20/24 | $18.0 | $17.4 | $17.44 | $282.50 | $43.7K | 703 | 113 |
| AMGN | CALL | SWEEP | BULLISH | 01/17/25 | $20.5 | $19.85 | $20.5 | $280.00 | $40.9K | 1.7K | 7 |
| AMGN | PUT | TRADE | NEUTRAL | 01/17/25 | $56.1 | $53.95 | $55.05 | $335.00 | $38.5K | 310 | 7 |
About Amgen
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm’s therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare-disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.
Following our analysis of the options activities associated with Amgen, we pivot to a closer look at the company’s own performance.
Where Is Amgen Standing Right Now?
- With a trading volume of 2,464,150, the price of AMGN is up by 1.67%, reaching $284.63.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 76 days from now.
Unusual Options Activity Detected: Smart Money on the Move
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Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Amgen options trades with real-time alerts from Benzinga Pro.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nvidia Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
NVIDIA Corporation NVDA will release earnings results for its third quarter, after the closing bell on Wednesday, Nov. 20.
Analysts expect the Santa Clara, California-based bank to report quarterly earnings at 75 cents per share, up from 40 cents per share in the year-ago period. Nvidia projects to report revenue of $33.14 billion for the recent quarter, compared to $18.12 billion a year earlier, according to data from Benzinga Pro.
On Monday, Nvidia announced it partnered with Alphabet Inc GOOG GOOGL Google Quantum AI to accelerate the development of next-generation quantum computing devices.
Nvidia shares gained 3.8% to close at $145.41 on Tuesday.
Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.
- Truist Securities analyst William Stein maintained a Buy rating and raised the price target from $148 to $167 on Nov. 19. This analyst has an accuracy rate of 87%.
- Stifel analyst Ruben Roy maintained a Buy rating and raised the price target from $165 to $180 on Nov. 19. This analyst has an accuracy rate of 86%.
- Wedbush analyst Matt Bryson maintained an Outperform rating and raised the price target from $138 to $160 on Nov. 14. This analyst has an accuracy rate of 82%.
- Raymond James analyst Srini Pajjuri maintained a Strong Buy rating and increased the price target from $140 to $170 on Nov. 14. This analyst has an accuracy rate of 80%.
- Susquehanna analyst Christopher Rolland maintained a Positive rating and boosted the price target from $160 to $180 on Nov. 14. This analyst has an accuracy rate of 72%.
Considering buying NVDA stock? Here’s what analysts think:
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Qualcomm stock falls after new autos, PC targets fail to wow investors
Qualcomm (QCOM) stock fell as much as 6% on Wednesday, a day after the company provided new financial targets for its non-smartphone business at its first Investor Day in three years.
Qualcomm, which gets the majority of its revenue from both designing and licensing handset chips, has been expanding into semiconductors that go into cars, personal computers and other devices.
The company now expects those businesses to generate a combined $22 billion in sales by 2029.
Eight billion dollars of that will come from Qualcomm’s automotive segment, where it already has partnerships with the likes of BMW to increase computing functionality in vehicles and push toward more autonomous driving.
Qualcomm forecast that $14 billion will come from its Internet of Things segment, which includes extended reality devices and industrial functions. It also includes PCs, expected to account for $4 billion. The company’s Snapdragon X Elite chips power Microsoft’s latest generation Surface laptops, which feature the GenAI Copilot assistant.
“Everybody that buys an X Elite is extremely happy with it,” Qualcomm CEO Cristiano Amon said in an interview following the Investor Day in New York.
“From all of our OEMs (original equipment manufacturers) and Microsoft, the current response is exceeding everybody’s expectation.” Amon called the $4 billion target for the PC business “high confidence.”
Some analysts, however, said the road there may not be smooth.
“While management is optimistic about AI PC opportunities, Windows-on-ARM skepticism and intense competition (from both x86 and ARM SoC suppliers) could limit QCOM’s opportunity,” Raymond James’ Srini Pajuri wrote in a note to clients. He has a hold-equivalent “market perform” rating on the stock.
Bank of America’s Tal Liani rates Qualcomm a “buy,’ and “came away incrementally positive on Qualcomm’s long-term positioning and the diversification outside of handsets.”
But Liani pointed out that not only is the company entering markets with emerging tech, but that it also needs to grab market share.
“These markets need to develop to support Qualcomm’s long-term targets, of which the pace and magnitude is uncertain,” he wrote.
Qualcomm’s biggest business remains smartphones, and its ramped-up diversification comes as Apple is working on migrating away from Qualcomm modems. As for the Android-based business, Amon said he’s projecting mid-single-digit growth, what he calls a “conservative assumption.”
That means the company expects to end the decade with its revenue about evenly split between handsets at 50% and autos and Internet of Things combined for the other 50%.
Target Margins And Inventory Issues Raise Analyst Caution After Weak Q3 Performance
Target Corporation TGT shares are trading lower on Wednesday after it reported weak third-quarter results and slashed FY24 outlook.
The company reported third-quarter adjusted earnings per share of $1.85, missing the street view of $2.30.
For FY24, the company now forecasts adjusted EPS between $8.30 and $8.90, down from the previous guidance of $9.00 to $9.70. The revised FY24 EPS outlook is also below the consensus estimate of $9.55.
Here are the analyst’s take on the earnings performance:
JP Morgan analyst Christopher Horvers reiterated the Neutral rating on Target Corporation.
The analyst notes that margins were a key factor in the stock’s reaction, as they are crucial to assessing the likelihood of meeting the 2025 operating margin estimate of 6.0%. While shrink (loss of inventory) helped, the analyst cautioned that higher fulfillment costs and excess inventory hurt margins, lowering the outlook.
For the fourth quarter, the analyst sees flat comparable sales, with a 40-basis-point headwind from the calendar shift, resulting in an operating margin of 4%-5% and earnings per share of $1.85-$2.45, below the Street’s expectation.
Also Read: Netflix Faces Class-Action Lawsuit Over Streaming Crashes During Jake Paul, Mike Tyson Fight
BofA Securities analyst Robert F. Ohmes reiterated the Buy rating on the company, with a price forecast of $195.
The analyst notes that Target’s fiscal third-quarter earnings release raises several questions. They highlight the CEO’s comments about the “unique challenges” faced by the retailer, expressing uncertainty about the specific cost pressures encountered in the third quarter and how much of this can normalize in 2025.
Ohmes is also cautious about the impact of digital growth on gross margin in the fourth quarter and 2025, following the pressures seen in the third quarter.
Additionally, the increase in general liability expenses raises questions, and the analyst is curious about whether shrink (inventory loss) provided a tailwind during the quarter and if it aligned with initial expectations. Finally, Ohmes is concerned about the shift in store-originated comps to a negative -1.9% in the third quarter, reversing the +0.7% growth seen in the second quarter.
Price Action: TGT shares are trading lower by 21.2% to $122.88 at last check Wednesday.
Image via Unsplash
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Cover is bringing high-end customizable prefab homes to all of Southern California
In 2024, this homebuilder obtained a permit faster than 99.8% of other permits, and built a 2 bed 2 bath home in just 3 weeks. Now they’re expanding their operations to over 200 new cities.
LOS ANGELES, Nov. 20, 2024 /PRNewswire/ — After years of focused technology development and production, Cover is announcing its biggest service area expansion yet: Cover is now serving all of Southern California, from San Luis Obispo to San Diego—including Los Angeles, Orange, Riverside, San Bernardino, Ventura, and Santa Barbara counties.
Cover’s approach has been to do a few things and do them extraordinarily well. For seven years, they’ve been building in Los Angeles only, iterating and perfecting their product and building process. It’s working, and that’s clear. Just last month, they permitted their most recent Backyard Home in just 28 days. That’s faster than 99.8% of Los Angeles ADU projects. Earlier this year they also installed a two-bed, two-bath custom Backyard Home in just 3 weeks. All without a crane or heavy equipment.
Cover builds homes using their patented panelized building technology with impressive architect-grade quality, at record speeds. Recently, the company moved into an 80,000 square foot pilot factory in Gardena, Los Angeles County. This quadrupled the size of their previous operation, with a new production capacity of 100 homes a year.
“California faces a housing crisis with a shortfall of over 3 million homes. At California’s current home building rate, it’ll take decades to build enough homes to meet the demand. We have to do something differently.” said Alexis Rivas, Cofounder & CEO of Cover. “That’s why Cover developed technology to build homes on production lines, more like cars.”
“This expansion marks a huge step forward in our mission to make better homes for everyone,” said Mr. Rivas. “We’re excited to now bring our proven process and exceptional homes to homeowners across Southern California.”
Now, all Southern California residents working with Cover can expect full-service project management from designs and permits, through turnkey delivery.
State-Approved for Speed and Simplicity: Cover’s building system exceeds California’s stringent building codes, ensuring a safe home and streamlined permitting process in cities throughout Southern California. Their pre-engineered Lego-like panels can be arranged into custom layouts.
A Dedicated Team, All Under One Roof: Cover eliminates the inefficiencies of coordinating with architects, engineers, general contractors, and subcontractors. Instead, Cover is the one point of contact, with in-house architects, mechanical and structural engineers, construction professionals, and an installation team that work closely together to deliver a complete home.
Built Locally in Southern California: The panels are manufactured in Cover’s Gardena, Los Angeles factory and then transported to their final destination on a standard truck. No crane or heavy machinery needed.
Residents all over Southern California can now enter their address in Cover’s online tool and get started building with Cover.
About Cover:
Cover is a technology company founded in 2014 that designs, permits, manufactures, and installs custom architect-grade homes. Cover’s mission is to make thoughtfully designed and well-built homes for everyone. Using proprietary design software and a precision manufactured building system, Cover delivers exceptional design, functionality, and energy performance, in a fraction of the time of conventional construction. Cover builds out of its 80,000 square foot headquarters and factory located in Gardena, Los Angeles County California and currently serves Southern California.
For more information, please email Cover at hello@buildcover.com.
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SOURCE Cover Technologies, Inc.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Unpacking the Latest Options Trading Trends in AbbVie
Whales with a lot of money to spend have taken a noticeably bullish stance on AbbVie.
Looking at options history for AbbVie ABBV we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 37% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $1,433,900 and 5, calls, for a total amount of $514,031.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $150.0 to $190.0 for AbbVie over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for AbbVie’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of AbbVie’s whale trades within a strike price range from $150.0 to $190.0 in the last 30 days.
AbbVie Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABBV | PUT | TRADE | BULLISH | 12/20/24 | $2.06 | $1.31 | $1.38 | $160.00 | $1.2M | 1.8K | 1.0K |
| ABBV | CALL | SWEEP | BEARISH | 05/16/25 | $21.6 | $21.55 | $21.6 | $150.00 | $254.8K | 14 | 118 |
| ABBV | PUT | SWEEP | BULLISH | 12/20/24 | $1.4 | $1.36 | $1.4 | $160.00 | $145.9K | 1.8K | 1.0K |
| ABBV | CALL | SWEEP | NEUTRAL | 05/16/25 | $3.6 | $3.4 | $3.52 | $190.00 | $130.6K | 207 | 380 |
| ABBV | CALL | TRADE | BEARISH | 01/17/25 | $7.1 | $7.05 | $7.05 | $165.00 | $69.7K | 4.1K | 116 |
About AbbVie
AbbVie is a pharmaceutical firm with a strong exposure to immunology (with Humira, Skyrizi, and Rinvoq) and oncology (with Imbruvica and Venclexta). The company was spun off from Abbott in early 2013. The 2020 acquisition of Allergan added several new products and drugs in aesthetics (including Botox).
Present Market Standing of AbbVie
- Trading volume stands at 1,463,877, with ABBV’s price up by 0.16%, positioned at $166.84.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 72 days.
What The Experts Say On AbbVie
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $215.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AbbVie with a target price of $231.
* In a cautious move, an analyst from Wolfe Research downgraded its rating to Outperform, setting a price target of $205.
* Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on AbbVie with a target price of $200.
* An analyst from Citigroup has decided to maintain their Buy rating on AbbVie, which currently sits at a price target of $215.
* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on AbbVie with a target price of $224.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for AbbVie, Benzinga Pro gives you real-time options trades alerts.
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