Taser Stock Rebounding After Fresno Police Order Body Cams

After tanking nearly 6 percent in Monday's broad-based sell-off, TASER International, Inc. TASR was indicated more than 2 percent higher in pre-market trading following an announcement that the Fresno Police Department ordered 300 Axon Flex body-worn video cameras.

The cameras retail for $599, so at full price, the deal would reflect nearly $180,000 in revenues for Taser. Fresno Police also ordered subscriptions to the Officer Safety Plan, part of Taser's Evidence.com division. Those retail at $99 per month per user.

Fresno Police Chief Jerry Dyer said, "Our body-worn cameras have allowed us to do that while enhancing the level of trust of our citizens through the collection of video evidence. The Officer Safety Plan allows us to minimize the total cost of outfitting our officers with cameras and Smart Weapons and the cost of storing and managing the data from these devices."

Year-to-date, Taser has gained 19.3 percent, compared with gains of 4.7 percent in the Nasdaq 100. The stock has twice hit resistance above $35 per share, however, falling substantially from that resistance in the past five days. Over the past year, the stock has traded widely between $10.46 and $35.95.