Stock News Buzz: Axon Enterprise (NASDAQ:AAXN)

Axon Enterprise (NASDAQ:AAXN) changed -3.44% to recent value of $73.93. The stock transacted 2187921 shares during most recent day however it has an average volume of 720.83K shares. It spotted trading -4.81% off 52-week high price. On the other end, the stock has been noted 74.27% away from the low price over the last 52-weeks.

On Jan. 03, 2020, Axon Enterprise (NASDAQ:AAXN) the global leader in connected public safety technologies,  filed a lawsuit in Phoenix in the United States District Court for the District of Arizona against the US Federal Trade Commission (FTC). In its 29-page complaint, Axon asked the court to declare the FTC’s structure and administrative procedures unconstitutional, and enjoin the Commission from subjecting Axon to its unfair internal forum and instead adjudicate the legality of the Vievu acquisition in a federal court.

At dispute is the FTC’s use of an internal administrative proceeding that Axon alleges violates its Constitutional rights to Due Process and Equal Protection of law. In August 2018, Axon disclosed an FTC investigation into its acquisition of Vievu — a small, failing company acquired for only $7 million in cash and stock plus up to $6 million in potential earn-outs along with a holster supply agreement.

The complaint alleges that on December 23, 2019, the FTC issued an extraordinary ultimatum, demanding Axon to not only divest the assets acquired in the Vievu acquisition, but to also surrender its independently created intellectual property as part of a blank check to create a competing spin-off, or else face an unconstitutional proceeding in which the FTC serves the simultaneous roles of prosecutor, judge and jury. In other words, the FTC is seeking to deprive Axon of its intellectual property without Due Process, an unprecedented strong-arm position that should send a chilling message to the nation’s technology-based industries.

AAXN has a gross margin of 59.10% and an operating margin of 2.10% while its profit margin remained 3.20% for the last 12 months. Its earnings per share (EPS) expected to touch remained 107.90% for this year while earning per share for the next 5-years is expected to reach at 30.00%.

The company has 58.58M of outstanding shares and 58.20M shares were floated in the market. According to the most recent quarter its current ratio was 3.1 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.00% from the mean of 20 days, 10.93% from mean of 50 days SMA and performed 16.42% from mean of 200 days price. Company’s performance for the week was 1.41%, 0.13% for month and YTD performance remained 0.88%.

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