Axon Enterprise Inc (NASDAQ:AAXN) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 4,510,000 shares, a growth of 21.2% from the August 15th total of 3,720,000 shares. Based on an average daily volume of 963,100 shares, the days-to-cover ratio is presently 4.7 days.
Several research firms recently commented on AAXN. Craig Hallum restated a “hold” rating and issued a $94.00 price target on shares of Axon Enterprise in a report on Friday, August 7th. Morgan Stanley raised their price target on shares of Axon Enterprise from $87.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Zacks Investment Research downgraded shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Tuesday, July 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of Axon Enterprise in a report on Wednesday, August 26th. Finally, BidaskClub raised shares of Axon Enterprise from a “sell” rating to a “hold” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Axon Enterprise currently has a consensus rating of “Hold” and a consensus target price of $99.25.
Shares of Axon Enterprise stock opened at $83.73 on Thursday. The company’s 50-day moving average price is $83.70 and its two-hundred day moving average price is $81.12. Axon Enterprise has a 52 week low of $49.80 and a 52 week high of $104.90. The stock has a market cap of $5.31 billion, a PE ratio of -152.24 and a beta of 0.60.
Axon Enterprise (NASDAQ:AAXN) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.17). Axon Enterprise had a negative return on equity of 5.32% and a negative net margin of 5.58%. The business had revenue of $141.26 million during the quarter, compared to the consensus estimate of $133.36 million. During the same quarter last year, the firm posted $0.14 earnings per share. Axon Enterprise’s revenue was up 25.7% compared to the same quarter last year. Equities research analysts anticipate that Axon Enterprise will post -0.64 EPS for the current fiscal year.
In other Axon Enterprise news, Director Julie A. Cullivan sold 840 shares of the firm’s stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $93.13, for a total transaction of $78,229.20. Following the sale, the director now directly owns 8,421 shares of the company’s stock, valued at approximately $784,247.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Garnreiter sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $98.64, for a total transaction of $49,320.00. Following the sale, the director now directly owns 32,650 shares in the company, valued at $3,220,596. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,199 shares of company stock worth $285,999. 1.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp purchased a new position in Axon Enterprise during the 2nd quarter valued at about $34,000. Truewealth LLC grew its stake in shares of Axon Enterprise by 42.5% in the 2nd quarter. Truewealth LLC now owns 392 shares of the industrial products company’s stock valued at $38,000 after buying an additional 117 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in shares of Axon Enterprise in the 2nd quarter valued at approximately $47,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Axon Enterprise in the 2nd quarter worth approximately $49,000. Finally, First Mercantile Trust Co. acquired a new stake in Axon Enterprise in the 2nd quarter worth approximately $107,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
Axon Enterprise Company Profile
Axon Enterprise, Inc develops, manufactures, and sells conducted energy weapons (CEWs) worldwide. The company operates through two segments, TASER and Software and Sensors. It offers TASER X26P, TASER X2, TASER 7, and TASER Pulse and Bolt CEWs; and related cartridges. The company also provides on-officer body cameras and Axon Fleet in-car video systems; and Axon Evidence connected software network; Axon Records cloud-based records management system; Axon Signal enabled devices; and computer-aided dispatch software, as well as Axon docks, cartridges, and batteries.
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