TASER Moves Higher Following LAPD Order

Shares of TASER International, Inc. (NASDAQ: TASR) jumped in Tuesday’s premarket following news of that the Los Angeles Police Department placed 3,130 orders for the company’s Smart Weapons.

According to the company’s press release, the first order is an upgrade of 2,270 older TASER weapons to the new TASER X26P Smart Weapon together with the TASER Assurance Plan, a program which covers all maintenance and service for these devices over a five-year period, including a replacement of the device with a new TASER Smart Weapon after five years.

The previously announced second order includes an additional expansion of 860 TASER X26P Smart Weapons as part of the roll out of 860 body cameras together with the new Officer Safety Plan that includes periodic hardware upgrades of both cameras and TASER systems.

"The Los Angeles Police Department is committed to implementing safety measures to reduce the risk of injuries to both our officers and the members of our community, while improving trust within our communities," said Los Angeles Police Department Chief of Police Charlie Beck. "In addition to these new TASER deployments, we plan to issue a body-worn camera and a TASER device to every officer. It is our goal to make these important tools available to every front line officer over the next few years."

TASER traded recently at $25.85, up 0.62 percent.