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

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AXON. ICA Group Wealth Management LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new stake in Axon Enterprise in the 1st quarter worth approximately $29,000. BKM Wealth Management LLC purchased a new stake in Axon Enterprise in the 4th quarter worth approximately $32,000. First PREMIER Bank purchased a new stake in Axon Enterprise in the 1st quarter worth approximately $33,000. Finally, First Capital Advisors Group LLC. purchased a new stake in Axon Enterprise in the 2nd quarter worth approximately $33,000. 79.08% of the stock is owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded down $0.46 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 stock’s 50-day moving average is $298.34 and its two-hundred day moving average is $256.00. Axon Enterprise has a 52-week low of $175.37 and a 52-week high of $329.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.00 and a quick ratio of 2.66. The stock has a market capitalization of $22.85 billion, a P/E ratio of 131.87 and a beta of 0.93.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on AXON shares. Barclays boosted their price target on shares of Axon Enterprise from $296.00 to $308.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. TheStreet downgraded shares of Axon Enterprise from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th. StockNews.com downgraded shares of Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Argus began coverage on shares of Axon Enterprise in a research note on Wednesday, March 13th. They set a “buy” rating and a $380.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.64.

About Axon Enterprise

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.