NEW YORK (TheStreet) -- Shares of TASER International (TASR) are down 4.01% to $33.03 on heavy volume in afternoon trading Thursday, after the company had its rating cut by analysts at Oppenheimer this morning.
The firm was downgraded to a "perform" rating from "outperform" on a valuation call.
Oppenheimer also removed its $28 price target on Taser shares, noting that there is there is no potential upside to the stock in the near term.
About 3.03 million shares have exchanged hands as of 1:47 p.m. ET today, compared to its average trading volume of about 2.7 million shares a day.
Scottsdale, AZ-based TASER is engaged in development, manufacture and sale of electronic control devices designed for use in the law enforcement, military, corrections, private security and personal defense markets.
Separately, TheStreet Ratings team rates TASER INTERNATIONAL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate TASER INTERNATIONAL INC (TASR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value."