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

Axon Enterprise, Inc. (NASDAQ:AXON) saw a large decline in short interest during 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 Analysts Forecast Growth

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

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 26,883 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $193.10, for a total transaction of $5,191,107.30. Following the transaction, the president now owns 290,965 shares of the company’s stock, valued at $56,185,341.50. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, President Joshua Isner sold 26,883 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $193.10, for a total value of $5,191,107.30. Following the transaction, the president now directly owns 290,965 shares of the company’s stock, valued at $56,185,341.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie A. Cullivan sold 515 shares of Axon Enterprise 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 directly owns 5,367 shares of the company’s stock, valued at approximately $1,151,060.49. The disclosure for this sale can be found here. Insiders have sold 50,298 shares of company stock worth $9,724,007 in the last ninety days. Insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Axon Enterprise

A number of hedge funds have recently added to or reduced their stakes in AXON. Hollencrest Capital Management bought a new position in shares of Axon Enterprise in the first quarter valued at approximately $29,000. Spire Wealth Management purchased a new position in Axon Enterprise during the 1st quarter worth $31,000. ICA Group Wealth Management LLC bought a new stake in shares of Axon Enterprise in the 4th quarter worth $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Axon Enterprise in the second quarter valued at about $30,000. Finally, WealthPLAN Partners LLC bought a new position in shares of Axon Enterprise during the first quarter valued at about $35,000. Institutional investors and hedge funds own 76.52% of the company’s stock.

Axon Enterprise Stock Down 1.8 %

NASDAQ:AXON traded down $3.72 on Tuesday, hitting $204.46. The stock had a trading volume of 90,942 shares, compared to its average volume of 867,681. The company has a market cap of $15.29 billion, a PE ratio of 155.36 and a beta of 0.87. Axon Enterprise has a 52 week low of $109.31 and a 52 week high of $229.95. The business’s fifty day moving average is $197.50 and its 200 day moving average is $203.13. The company has a quick ratio of 2.98, a current ratio of 3.38 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON) last posted its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.47. Axon Enterprise had a net margin of 7.24% and a return on equity of 10.88%. The business had revenue of $374.61 million during the quarter, compared to the consensus estimate of $347.53 million. On average, equities research analysts expect 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.