Axon Enterprise, Inc. (NASDAQ:AXON) Short Interest Down 12.4% in March

Axon Enterprise, Inc. (NASDAQ:AXON) was the recipient of a large drop in short interest in 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. Based on an average daily volume of 918,500 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.7% of the shares of the stock are sold short.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $558.42 on Thursday. The company has a market capitalization of $42.79 billion, a price-to-earnings ratio of 144.29, a PEG ratio of 5.17 and a beta of 1.13. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.96 and a quick ratio of 2.63. Axon Enterprise has a 1-year low of $273.52 and a 1-year high of $715.99. The business has a 50-day moving average of $585.99 and a 200-day moving average of $552.79.

Wall Street Analyst Weigh In

AXON has been the subject of several recent analyst reports. Barclays reaffirmed a “hold” rating on shares of Axon Enterprise in a research note on Monday, March 10th. Northcoast Research lowered Axon Enterprise from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 19th. TD Cowen began coverage on shares of Axon Enterprise in a research note on Wednesday, January 8th. They set a “buy” rating and a $700.00 price objective for the company. JMP Securities restated an “outperform” rating on shares of Axon Enterprise in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group increased their price target on shares of Axon Enterprise from $500.00 to $700.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and an average price target of $604.67.

Insider Buying and Selling

In other Axon Enterprise news, Director Jeri Williams sold 307 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $552.72, for a total transaction of $169,685.04. Following the sale, the director now directly owns 1,627 shares of the company’s stock, valued at $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 company insiders.

Hedge Funds Weigh In On Axon Enterprise

A number of institutional investors and hedge funds have recently bought and sold shares of AXON. Vanguard Group Inc. lifted its position in shares of Axon Enterprise by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 8,446,437 shares of the biotechnology company’s stock worth $5,019,886,000 after purchasing an additional 275,959 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Axon Enterprise by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 1,847,925 shares of the biotechnology company’s stock worth $1,095,542,000 after buying an additional 65,097 shares in the last quarter. Capital World Investors boosted its position in Axon Enterprise by 86.4% in the 4th quarter. Capital World Investors now owns 1,815,765 shares of the biotechnology company’s stock valued at $1,079,145,000 after buying an additional 841,772 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Axon Enterprise by 273.8% during the fourth quarter. Alliancebernstein L.P. now owns 1,109,045 shares of the biotechnology company’s stock valued at $659,128,000 after acquiring an additional 812,337 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Axon Enterprise during the fourth quarter worth about $482,081,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

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.