Why These Defense Stocks Are Declining This Week

7. Byrna Technologies Inc. (NASDAQ:BYRN)

Weekly Decline: -12.63%

Byrna Technologies Inc. (NASDAQ:BYRN) manufactures less-lethal equipment and munitions for personal security, private security firms, military, and law enforcement agencies.

On March 5, the company declared preliminary results for the first quarter of fiscal 2025. Byrna Technologies Inc. (NASDAQ:BYRN) is expecting a revenue of $26.2 million, which will represent a 57% year-over-year growth, and is attributed to successful marketing strategies and increased production levels at the Fort Wayne factory.

While the announcement should have bolstered investor interest in the company, Byrna Technologies Inc. (NASDAQ:BYRN)’s share price continued to fall. The stock has plunged 12.63% over the past week, adding to the 9.75% decline during the week of February 24. Overvaluation concerns among investors, given its high P/E ratio, is a likely driver behind the dip.