Taser International Earnings Beat Zaps Short-Sellers

'' Taser International

shares are trading higher by $1.68 at $29.79 in Thursday's session. The catalyst for the rally is a Q1 beat for EPS ($0.13 vs. Est. $0.06) and for revenue ($44.8M vs. Est. $40M). This market the eighth time in the last nine quarters the company has beat the Street for earnings. Over that course of time, the issue rallied from the $9 level to its current. Recent turmoil in Feguson, Mo and Baltimore, MD have attracted momentum investors to the issue. The earnings beat has instigated a rally to $31.19, which represents the highest level for the issue since it peaked at $32.49 in January 2005. The all time high was made one month early at $33.45. Since making the multi-year high, profit-taking has taken the issue under $30 to $29.24, before rebounding and is finding some intraday resistance at the $30 level. Short-covering may adding to the rally, as the short-interest in the issue stand at 25 percent of the shares outstanding.