NEW YORK (TheStreet) -- Shares of TASER International Inc (TASR) were slumping, down 1.97% to $32.32 in midday trading Monday, after Panasonic Corporation of North America entered the police body camera space.
Panasonic launched the Arbitrator BWC, its next-generation law enforcement body camera along with an evidence management system for storing and accessing recorded content.
"As one of the first companies to offer a body-worn camera for law enforcement in 2012, we were able to gather feedback from our customers and go back to the design board to create something completely new that would meet their needs better than any other solution available, " VP of Panasonic System Communications Company of North America Greg Peratt said in a statement.
The Arbitrator BWC has a 130-degree view, automatic recording, smartphone integration, and a built in GPS and WiFi.
The body camera has been engineered for law enforcement use, and is resistant to shock, vibration, extreme temperatures, and other harsh conditions.
Additionally, the Arbitrator BWC weighs 4.6 ounces.
Similarly, shares of Digital Ally (DGLY), which also markets body-worn cameras for police, were down 5.56% to $14.60 today.
Scottsdale, Ariz.-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 a few notable strengths, 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 its 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."