Axon Enterprise, Inc. (NASDAQ:AXON) Short Interest Down 7.3% in March

Axon Enterprise, Inc. (NASDAQ:AXON) was the target of a significant decline in short interest during the month of 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 daily trading volume, of 461,500 shares, the short-interest ratio is presently 4.9 days.

Institutional Investors Weigh In On Axon Enterprise

Hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new stake in Axon Enterprise during the 4th quarter valued at $25,000. Hollencrest Capital Management bought a new stake in shares of Axon Enterprise during the first quarter valued at about $29,000. BKM Wealth Management LLC acquired a new stake in Axon Enterprise in the fourth quarter worth about $32,000. First PREMIER Bank bought a new position in Axon Enterprise in the 1st quarter valued at about $33,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Axon Enterprise during the 2nd quarter worth about $33,000. Institutional investors own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AXON shares. JMP Securities raised their price objective on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 6th. StockNews.com downgraded Axon Enterprise from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. TheStreet cut Axon Enterprise from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th. Robert W. Baird increased their target price on Axon Enterprise from $260.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Finally, Argus started coverage on Axon Enterprise in a report on Wednesday, March 13th. They issued a “buy” rating and a $380.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has a consensus rating of “Moderate Buy” and an average target price of $312.64.

Axon Enterprise Stock Performance

AXON stock traded down $7.50 during mid-day trading on Monday, reaching $303.31. The company had a trading volume of 354,541 shares, compared to its average volume of 464,761. Axon Enterprise has a one year low of $175.37 and a one year high of $329.87. The stock has a market capitalization of $22.89 billion, a P/E ratio of 131.87 and a beta of 0.93. The company has a quick ratio of 2.66, a current ratio of 3.00 and a debt-to-equity ratio of 0.42. The stock’s 50-day simple moving average is $298.34 and its two-hundred day simple moving average is $256.00.

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

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.