Axon Enterprise, Inc (NASDAQ:AXON) Short Interest Up 21.3% in January

Axon Enterprise, Inc (NASDAQ:AXON) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 2,655,644 shares, a growth of 21.3% from the December 31st total of 2,189,992 shares. Based on an average daily volume of 685,615 shares, the short-interest ratio is currently 3.9 days. Approximately 3.6% of the shares of the company are sold short. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 685,615 shares, the short-interest ratio is currently 3.9 days.

Axon Enterprise Trading Down 4.9%

Shares of AXON opened at $459.99 on Tuesday. Axon Enterprise has a fifty-two week low of $459.50 and a fifty-two week high of $885.91. The stock has a fifty day moving average of $577.05 and a two-hundred day moving average of $666.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12. The company has a market capitalization of $36.30 billion, a PE ratio of 145.57, a price-to-earnings-growth ratio of 14.57 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last released its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.46). Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. The business had revenue of $710.64 million during the quarter, compared to analyst estimates of $704.83 million. During the same quarter in the previous year, the company posted $1.45 earnings per share. The business’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, analysts forecast that Axon Enterprise will post 5.8 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXON. The Goldman Sachs Group dropped their target price on shares of Axon Enterprise from $940.00 to $800.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Piper Sandler dropped their target price on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. Morgan Stanley reduced their target price on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Finally, TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $805.71.

Insider Buying and Selling at Axon Enterprise

In other news, insider Jeffrey C. Kunins sold 1,797 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $539.23, for a total value of $968,996.31. Following the completion of the sale, the insider directly owned 83,485 shares of the company’s stock, valued at $45,017,616.55. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brittany Bagley sold 2,500 shares of Axon Enterprise stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $610.00, for a total value of $1,525,000.00. Following the completion of the sale, the chief financial officer owned 91,092 shares in the company, valued at approximately $55,566,120. This trade represents a 2.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 60,540 shares of company stock worth $34,684,738. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axon Enterprise

Institutional investors have recently bought and sold shares of the stock. Stone House Investment Management LLC purchased a new position in Axon Enterprise during the third quarter worth approximately $29,000. New Millennium Group LLC acquired a new stake in shares of Axon Enterprise during the 3rd quarter worth $29,000. Sound Income Strategies LLC grew its position in Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 44 shares during the period. Camelot Portfolios LLC purchased a new position in shares of Axon Enterprise in the 4th quarter worth about $30,000. Finally, Hemington Wealth Management lifted its stake in shares of Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 17 shares in the last quarter. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.