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

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,570,000 shares, a decline of 17.8% from the March 15th total of 1,910,000 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 833,100 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of recent analyst reports. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. The Goldman Sachs Group increased their target price on Axon Enterprise from $500.00 to $700.00 and gave the company a “buy” rating in a report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $600.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 26th. Craig Hallum downgraded shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a research note on Monday, March 10th. Finally, JMP Securities restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Axon Enterprise currently has a consensus rating of “Moderate Buy” and a consensus price target of $626.45.

Insider Transactions at Axon Enterprise

In related news, Director Jeri Williams sold 307 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $552.72, for a total value of $169,685.04. Following the transaction, the director now owns 1,627 shares in the company, valued at approximately $899,275.44. The trade was a 15.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of large investors have recently bought and sold shares of AXON. Fourth Dimension Wealth LLC purchased a new position in shares of Axon Enterprise during the fourth quarter worth $30,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Axon Enterprise in the 4th quarter valued at about $40,000. Y.D. More Investments Ltd purchased a new stake in Axon Enterprise during the 4th quarter valued at approximately $45,000. Elequin Capital LP purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $46,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Axon Enterprise in the fourth quarter valued at about $53,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

NASDAQ:AXON traded up $12.39 during trading hours on Tuesday, hitting $554.32. 61,982 shares of the stock traded hands, compared to its average volume of 782,402. The company has a market cap of $42.47 billion, a price-to-earnings ratio of 143.24, a price-to-earnings-growth ratio of 5.17 and a beta of 1.13. Axon Enterprise has a 1 year low of $273.52 and a 1 year high of $715.99. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average price of $553.80 and a 200 day moving average price of $568.36.

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.