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

Axon Enterprise, Inc. (NASDAQ:AXON - Get Free Report) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,910,000 shares, a drop of 12.4% from the February 28th total of 2,180,000 shares. Approximately 2.7% of the company's shares are sold short. Based on an average daily trading volume, of 918,500 shares, the days-to-cover ratio is presently 2.1 days.

Axon Enterprise Stock Down 3.4 %

Shares of NASDAQ:AXON traded down $18.73 on Thursday, hitting $539.69. 661,869 shares of the company's stock were exchanged, compared to its average volume of 810,044. Axon Enterprise has a 1-year low of $273.52 and a 1-year high of $715.99. The company has a market capitalization of $41.35 billion, a PE ratio of 139.46, a P/E/G ratio of 5.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The firm's 50-day moving average is $584.52 and its 200 day moving average is $552.70.

Wall Street Analysts Forecast Growth

AXON has been the topic of several research reports. Needham & Company LLC reissued a "buy" rating and set a $600.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 26th. The Goldman Sachs Group raised their price objective on shares of Axon Enterprise from $500.00 to $700.00 and gave the company a "buy" rating in a research note on Monday, January 27th. JMP Securities reaffirmed an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, February 4th. Craig Hallum cut shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a research report on Monday, March 10th. Finally, Northcoast Research downgraded shares of Axon Enterprise from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $604.67.

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Insiders Place Their Bets

In related news, Director Jeri Williams sold 307 shares of Axon Enterprise stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $552.72, for a total value of $169,685.04. Following the completion of the sale, the director now owns 1,627 shares in the company, valued at approximately $899,275.44. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axon Enterprise

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Axon Enterprise during the 3rd quarter worth approximately $84,000. Townsquare Capital LLC purchased a new stake in Axon Enterprise in the third quarter valued at $261,000. Public Sector Pension Investment Board lifted its position in Axon Enterprise by 19.2% in the third quarter. Public Sector Pension Investment Board now owns 3,104 shares of the biotechnology company's stock valued at $1,240,000 after acquiring an additional 500 shares during the last quarter. Martingale Asset Management L P acquired a new position in Axon Enterprise in the third quarter valued at $252,000. Finally, Captrust Financial Advisors grew its holdings in shares of Axon Enterprise by 2.6% during the third quarter. Captrust Financial Advisors now owns 12,406 shares of the biotechnology company's stock worth $4,958,000 after purchasing an additional 320 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

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.