Unusual options trading activity has been observed in Axon Enterprise, with a significant number of bullish call options being traded. This activity suggests that investors are optimistic about the company's future prospects. Specifically, 52 uncommon options trades were detected, with 47 being call options totaling over $5.2 million, indicating a strong bullish sentiment among traders. This surge in options trading could be a response to recent positive developments or expectations of future growth.
Additionally, Axon Enterprise's stock received a boost from a recent upgrade by Morgan Stanley, which raised its rating to Overweight and set a price target of $700. This upgrade reflects confidence in Axon's growth potential, particularly in its AI-driven initiatives and its position as a leader in public safety technology. The combination of bullish options activity and the analyst upgrade has contributed to the positive sentiment surrounding Axon.
Axon Enterprise's stock closed at $669.87 on December 3, 2024, marking a 5.26% increase from the previous close of $636.39.