Byrna Technologies Inc. (BYRN) experienced a significant surge, soaring 6.68% in extended trading. This unusual movement outside regular trading hours comes on the heels of the company's impressive third-quarter performance and optimistic future projections.

The stock's upward trajectory can be attributed to Byrna's recently announced Q3 results, which showcased a remarkable 35% year-over-year revenue increase. This growth was primarily driven by an expanded retail network and the implementation of sophisticated AI-driven marketing strategies. The company's partnership with Sportsman's Warehouse, involving 54 locations with point-of-sale displays and experiential shooting lanes, is expected to further boost customer engagement and potentially improve net margins.

Investors appear to be responding positively to Byrna's upbeat full-year guidance and management's confident outlook. The company has already seen a 32% share price return over the past month and an impressive 88.8% total shareholder return over the past year. While some analysts suggest the stock may still be undervalued, with estimates placing fair value at $38.50 compared to the recent closing price of $26.36, investors should also consider potential risks such as increased costs from shifting supply to the U.S. and heavy dependence on Amazon for sales.