Axon Enterprise, Inc. (NASDAQ:AXON) Sees Significant Drop in Short Interest

Axon Enterprise, Inc. (NASDAQ:AXON) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 2,140,000 shares, a decline of 16.4% from the August 15th total of 2,560,000 shares. Based on an average daily volume of 702,500 shares, the short-interest ratio is presently 3.0 days.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AXON. StockNews.com started coverage on shares of Axon Enterprise in a report on Wednesday, August 23rd. They issued a “hold” rating on the stock. TheStreet cut Axon Enterprise from a “b-” rating to a “c+” rating in a report on Friday, May 26th. Morgan Stanley started coverage on Axon Enterprise in a report on Tuesday, August 22nd. They set an “equal weight” rating and a $230.00 price objective for the company. Barclays lowered their target price on shares of Axon Enterprise from $256.00 to $239.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 9th. Finally, Northland Securities boosted their price target on shares of Axon Enterprise from $227.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, August 11th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

Insider Activity

In related news, Director Julie A. Cullivan sold 515 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $214.47, for a total value of $110,452.05. Following the completion of the transaction, the director now directly owns 5,367 shares of the company’s stock, valued at approximately $1,151,060.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Julie A. Cullivan sold 515 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $214.47, for a total transaction of $110,452.05. Following the sale, the director now owns 5,367 shares of the company’s stock, valued at approximately $1,151,060.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hadi Partovi bought 25,000 shares of Axon Enterprise stock in a transaction on Friday, June 23rd. The shares were bought at an average cost of $191.10 per share, with a total value of $4,777,500.00. Following the acquisition, the director now directly owns 413,817 shares in the company, valued at $79,080,428.70. The disclosure for this purchase can be found here. Insiders have sold a total of 50,298 shares of company stock valued at $9,724,007 over the last quarter. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Axon Enterprise

Several institutional investors and hedge funds have recently bought and sold shares of AXON. Versor Investments LP purchased a new stake in Axon Enterprise in the first quarter worth $702,000. Avantax Advisory Services Inc. lifted its position in Axon Enterprise by 24.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 2,344 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 455 shares during the period. Advisor Group Holdings Inc. boosted its stake in Axon Enterprise by 32.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,121 shares of the biotechnology company’s stock worth $5,329,000 after acquiring an additional 7,780 shares in the last quarter. Journey Strategic Wealth LLC purchased a new stake in Axon Enterprise in the first quarter worth about $246,000. Finally, Triasima Portfolio Management inc. bought a new position in shares of Axon Enterprise during the fourth quarter valued at approximately $302,000. 76.52% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

NASDAQ:AXON traded up $3.82 during midday trading on Monday, reaching $210.03. 166,860 shares of the stock traded hands, compared to its average volume of 870,233. The firm has a market capitalization of $15.70 billion, a PE ratio of 153.89 and a beta of 0.87. The company has a quick ratio of 2.98, a current ratio of 3.38 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $197.24. Axon Enterprise has a 12 month low of $109.31 and a 12 month high of $229.95.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Tuesday, August 8th. The biotechnology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.47. The company had revenue of $374.61 million during the quarter, compared to analyst estimates of $347.53 million. Axon Enterprise had a net margin of 7.24% and a return on equity of 10.88%. On average, analysts predict that Axon Enterprise will post 1.96 EPS for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.