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

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient 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 daily trading volume, of 461,500 shares, the short-interest ratio is presently 4.9 days.

Hedge Funds Weigh In On Axon Enterprise

A number of large investors have recently modified their holdings of the stock. Brookstone Capital Management increased its holdings in shares of Axon Enterprise by 5.1% in the first quarter. Brookstone Capital Management now owns 839 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 41 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Axon Enterprise by 3.9% in the 4th quarter. HB Wealth Management LLC now owns 1,139 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 43 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in shares of Axon Enterprise by 1.1% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,997 shares of the biotechnology company’s stock valued at $1,033,000 after buying an additional 43 shares during the period. UMB Bank n.a. raised its position in shares of Axon Enterprise by 11.0% during the fourth quarter. UMB Bank n.a. now owns 444 shares of the biotechnology company’s stock worth $115,000 after acquiring an additional 44 shares during the last quarter. Finally, CWM LLC boosted its holdings in Axon Enterprise by 1.8% in the third quarter. CWM LLC now owns 2,669 shares of the biotechnology company’s stock valued at $531,000 after acquiring an additional 46 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXON has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on shares of Axon Enterprise from $260.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Morgan Stanley increased their price target on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 28th. JMP Securities raised their price target on shares of Axon Enterprise from $250.00 to $285.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 6th. TheStreet lowered Axon Enterprise from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group increased their target price on Axon Enterprise from $297.00 to $339.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $312.64.

Axon Enterprise Price Performance

Axon Enterprise stock traded down $7.50 on Monday, reaching $303.31. The company’s stock had a trading volume of 354,541 shares, compared to its average volume of 464,761. The business’s fifty day moving average price is $298.34 and its 200 day moving average price is $256.00. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.66 and a current ratio of 3.00. The company has a market cap of $22.89 billion, a price-to-earnings ratio of 131.87 and a beta of 0.93. Axon Enterprise has a twelve month low of $175.37 and a twelve month high of $329.87.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.29. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The business had revenue of $432.14 million during the quarter, compared to analysts’ expectations of $418.97 million. Equities analysts expect that Axon Enterprise will post 2.43 earnings per share 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.