Axon Enterprise, Inc. (NASDAQ:AXON) Sees Large Decline in Short Interest

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,280,000 shares, a drop of 7.3% from the March 15th total of 2,460,000 shares. Based on an average trading volume of 461,500 shares, the days-to-cover ratio is presently 4.9 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXON. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $315.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lifted their price objective on shares of Axon Enterprise from $330.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Robert W. Baird raised their target price on shares of Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Morgan Stanley raised their target price on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $297.00 to $339.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Axon Enterprise presently has an average rating of “Moderate Buy” and an average price target of $312.64.

Axon Enterprise Stock Down 0.2 %

Shares of NASDAQ AXON traded down $0.46 during midday trading on Tuesday, reaching $302.85. The company’s stock had a trading volume of 261,643 shares, compared to its average volume of 461,584. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. Axon Enterprise has a fifty-two week low of $175.37 and a fifty-two week high of $329.87. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 131.87 and a beta of 0.93. The stock has a 50 day simple moving average of $298.34 and a 200-day simple moving average of $256.00.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.29. Axon Enterprise had a net margin of 11.14% and a return on equity of 14.11%. The firm had revenue of $432.14 million during the quarter, compared to analysts’ expectations of $418.97 million. Equities research analysts predict that Axon Enterprise will post 2.43 earnings per share for the current year.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors have recently modified their holdings of the business. ICA Group Wealth Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $25,000. Hollencrest Capital Management bought a new stake in shares of Axon Enterprise in the first quarter valued at about $29,000. BKM Wealth Management LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at about $32,000. First PREMIER Bank bought a new stake in shares of Axon Enterprise in the first quarter valued at about $33,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Axon Enterprise in the second quarter valued at about $33,000. Institutional investors own 79.08% of the company’s stock.

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.