Potential Price Increase for Axon Enterprise Inc (AXON) After Recent Insider Activity

In a filing, Axon Enterprise Inc revealed its PRESIDENT Isner Joshua unloaded Company’s shares for reported $8.91 million on Jan 02 ’24. In the deal valued at $251.68 per share,35,400 shares were sold. As a result of this transaction, Isner Joshua now holds 309,564 shares worth roughly $95.77 million.

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Then, Kunins Jeffrey C sold 2,722 shares, generating $699,410 in total proceeds. Upon selling the shares at $256.95, the CPO & CTO now owns 226,083 shares.

Before that, Isner Joshua sold 2,562 shares. Axon Enterprise Inc shares valued at $658,778 were divested by the PRESIDENT at a price of $257.13 per share. As a result of the transaction, Isner Joshua now holds 344,964 shares, worth roughly $106.72 million.

Argus initiated its Axon Enterprise Inc [AXON] rating to a Buy in a research note published on March 13, 2024; the price target was $380. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in late August with a ‘”an Equal-weight”‘ rating. JP Morgan revised its rating on May 11, 2023. It rated AXON as “an Overweight” which previously was an “a Neutral”.

Price Performance Review of AXON

On Tuesday, Axon Enterprise Inc [NASDAQ:AXON] saw its stock fall -0.65% to $309.36. Over the last five days, the stock has lost -1.94%. Axon Enterprise Inc shares have risen nearly 19.75% since the year began. Nevertheless, the stocks have risen 42.10% over the past one year. While a 52-week high of $325.63 was reached on 03/04/24, a 52-week low of $175.37 was recorded on 01/05/24. SMA at 50 days reached $286.49, while 200 days put it at $231.62. A total of 0.34 million shares were traded, compared to the trading of 0.36 million shares in the previous session.

Levels Of Support And Resistance For AXON Stock

The 24-hour chart illustrates a support level at 306.07, which if violated will result in even more drops to 302.77. On the upside, there is a resistance level at 311.39. A further resistance level may holdings at 313.41. The Relative Strength Index (RSI) on the 14-day chart is 56.87, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.08, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 70.55%. Stochastics %K at 39.93% indicates the stock is a holding.

How much short interest is there in Axon Enterprise Inc?

A steep rise in short interest was recorded in Axon Enterprise Inc stocks on Mar 15, 2024, growing by 0.65 million shares to a total of 2.46 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 1.81 million shares. There was a rise of 26.42%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.89% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.65.

The most recent change occurred on March 08, 2023 when Goldman began covering the stock and recommended ‘”a Buy”‘ rating along with a $263 price target.

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