NEW YORK (TheStreet) -- Shares of Taser (TASR) were down 12.62% to $25 on heavy trading volume in late-morning trading on Monday after the New York Police Department awarded a five-year, $6.4 million body camera contract to Seattle-based body-camera maker Vievu, the New York Daily News reported.
But Craig-Hallum maintained a "buy" rating and $33 price target on shares of Scottsdale, AZ-based Taser earlier today.
Vievu has agreed to a "significantly unprofitable contract," and appears to be providing free body cameras to 5,000 police officers, the firm said in a note cited by TheFly.
Taser remains the "dominant force in the domestic body-worn video market," Craig-Hallum added.
About 3.45 million shares of Taser have been traded so far today, well above the company's average trading volume of roughly 889,900 shares a day.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.
Taser's strengths such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: TASR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.