Taser (TASR) Short Interest Spikes 23.78% in November

Recent short interest data for the 11/28/2014 settlement date shows an increase in short interest for shares of Taser International Inc. (TASR). As of November 28, the short interest for the electrical weapons manufacturer totaled 11,374,563 shares, as compared to 9,188,978 shares since November 14, a jump of 23.78%. Average daily volume [AVM] for the same period rose by 664,297 to 3,817,971 shares from 3,153,674 shares. It is worth mentioning that ticker’s short interest has surged by more than 8.9M shares, or 369%, from the 8/15/2014 settlement date.

Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 2.98 days. Days-to-cover for TASR increased to 2.98 for the November 28 settlement date, as compared to 2.91 days at the November 14 report.

Recently, a number of Wall Street firms have assigned a rating to the stock. Analysts at Ladenburg Thalmann downgraded the name with a ‘Neutral’ rating and a $24 price target in a research note on December 8th. JP Morgan (JPM) analysts also downgraded the stock to ‘Neutral’ from ‘Overweight’ and a $20 price target in a research note to clients on December 3. Finally, analysts at CRT Capital downgraded TASR with a ‘Sell’ and $12 price target in a research note on October 31st.

Taser International Inc. has a beta of -0.46 and a short float of 22.16%. In the past 52 weeks, shares of Scottsdale, Arizona-based company have traded between a low of $10.46 and a high of $25.02 and are now at $23.19. Shares are up 38% year-over-year and 46.03% year-to-date.

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