Axon Enterprise Inc (NASDAQ:AAXN) Short Interest Update

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Axon Enterprise Inc (NASDAQ:AAXN) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 8,780,000 shares, an increase of 12.6% from the September 30th total of 7,800,000 shares. Currently, 15.2% of the company’s shares are short sold. Based on an average daily trading volume, of 726,600 shares, the short-interest ratio is currently 12.1 days.

AAXN has been the topic of several research analyst reports. Imperial Capital boosted their price objective on shares of Axon Enterprise from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday. They noted that the move was a valuation call. BidaskClub lowered shares of Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Needham & Company LLC upgraded shares of Axon Enterprise from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Friday, November 8th. ValuEngine lowered shares of Axon Enterprise from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Zacks Investment Research upgraded shares of Axon Enterprise from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $71.13.

In related news, Director Mark W. Kroll sold 4,168 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $64.30, for a total value of $268,002.40. Following the sale, the director now directly owns 19,493 shares in the company, valued at approximately $1,253,399.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAXN. Bartlett & Co. LLC acquired a new position in Axon Enterprise in the 3rd quarter valued at about $27,000. Quad Cities Investment Group LLC grew its position in Axon Enterprise by 400.0% in the 2nd quarter. Quad Cities Investment Group LLC now owns 500 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 400 shares in the last quarter. Executive Wealth Management LLC acquired a new position in Axon Enterprise in the 2nd quarter valued at about $32,000. Griffin Asset Management Inc. acquired a new position in Axon Enterprise in the 2nd quarter valued at about $40,000. Finally, Steward Partners Investment Advisory LLC acquired a new position in Axon Enterprise in the 2nd quarter valued at about $103,000. 84.56% of the stock is owned by institutional investors.

NASDAQ AAXN opened at $66.69 on Friday. The company has a market cap of $3.82 billion, a P/E ratio of 133.38, a P/E/G ratio of 8.62 and a beta of 0.62. The stock has a 50-day moving average of $55.20 and a two-hundred day moving average of $62.66. Axon Enterprise has a 1-year low of $39.43 and a 1-year high of $74.93.

Axon Enterprise (NASDAQ:AAXN) last released its earnings results on Thursday, November 7th. The industrial products company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.02. The company had revenue of $130.84 million during the quarter, compared to the consensus estimate of $122.72 million. Axon Enterprise had a return on equity of 3.20% and a net margin of 3.24%. Axon Enterprise’s revenue was up 24.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. On average, sell-side analysts anticipate that Axon Enterprise will post 0.45 EPS for the current fiscal year.

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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