Axon Enterprise [NASDAQ: AAXN] has announced today that it has signed a $13 million agreement with U.S Custom and Border Protection Agency (CBP).
As per the contract Axon will provide Axon Body 3 cameras backed by Axon Evidence to 3,800 border patrol agents. The order is awarded to Axon Enterprise in the third quarter of 2020. The order shipment will take place in multiple phases throughout 2020 and 2021.
Axon Evidence is a US General Services Administration FedRAMP-Authorized cloud-based digital evidence management solution offered to federal law enforcement.
Shares of Axon Enterprise soared 0.81% as it gained +0.71 on Tuesday. It has a closing price of $88.62 and earlier opened at $87.92. Axon had a trading volume of 391.44K as compared to the average volume of 643.87K.
In the past 52-weeks of trading, this company’s stock has changed between the 52-weeks low range of $49.80 and a high range of $104.90. It has moved up 77.95% from its 52-weeks low and moved down -15.52% from its 52-weeks high.
Turing our focus on its liquidity, it has a current ratio of 3.60. Axon Enterprise market capitalization has remained high, hitting $5.51 billion at the time of writing.
If we look at the benefits of the Axon Incident-Driven Video Recording system (IDVRS) it will help the agents and provide the evidence and documentation during enforcement incidents.
These cameras of Axon also offer the best services and help both the agents and the public. This new technology will also enable CBP to be more efficient and better serve the American public.