Short Interest in TASER International, Inc. (AAXN) Drops By 6.3%
TASER International, Inc. (NASDAQ:AAXN) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 16,973,953 shares, a drop of 6.3% from the August 15th total of 18,121,071 shares. Currently, 33.2% of the company’s shares are short sold. Based on an average daily trading volume, of 613,474 shares, the days-to-cover ratio is currently 27.7 days.
Shares of TASER International (NASDAQ AAXN) opened at 22.55 on Friday. The firm has a 50-day moving average price of $23.02 and a 200 day moving average price of $23.93. The stock has a market cap of $1.19 billion, a PE ratio of 70.47 and a beta of 1.00. TASER International has a 12-month low of $21.18 and a 12-month high of $29.00.
TASER International (NASDAQ:AAXN) last released its earnings results on Tuesday, August 8th. The industrial products company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $79.64 million for the quarter, compared to analysts’ expectations of $74.46 million. TASER International had a return on equity of 10.47% and a net margin of 5.45%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Equities research analysts expect that TASER International will post $0.25 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new position in shares of TASER International during the second quarter valued at approximately $102,000. Parallel Advisors LLC grew its stake in shares of TASER International by 13.5% during the second quarter. Parallel Advisors LLC now owns 4,200 shares of the industrial products company’s stock valued at $103,000 after buying an additional 500 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of TASER International during the second quarter valued at approximately $113,000. SG Americas Securities LLC bought a new position in shares of TASER International during the second quarter valued at approximately $118,000. Finally, FNY Partners Fund LP grew its stake in shares of TASER International by 25.0% during the second quarter. FNY Partners Fund LP now owns 5,000 shares of the industrial products company’s stock valued at $125,000 after buying an additional 1,000 shares during the last quarter. 95.72% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on AAXN shares. Zacks Investment Research upgraded TASER International from a “sell” rating to a “hold” rating in a report on Monday, August 14th. ValuEngine upgraded TASER International from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $27.33.
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About TASER International
Axon Enterprise, Inc, formerly TASER International, Inc, is engaged in development, manufacture and sale of conducted electrical weapons (CEWs) for use by law enforcement, military, corrections and private security personnel, and by private individuals for personal defense. It is also engaged in development of connected wearable on-officer cameras.
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