TASER International (Nasdaq:TASR) Stunned by New Orders

TASER International (Nasdaq:TASR) finally got some relief as orders from several different entities came in for the device, as the company battles numerous lawsuits from the perceived effects on people possibly harmed by the devices.

Canaccord said, "The maker of stun-guns got a much-needed jolt from a new batch of orders. Scottsdale, Arizona-based Taser said it received five significant follow-up orders for its TASER X26 electronic control devices (ECDs) and related accessories. The first order received was from a U.S. federal agency to provide 692 TASER X26 ECDs with 1384 TASER cartridges. The other orders were from four separate international customers. Those orders include a total of: 3110 ADVANCED TASER M26 ECDs; 712 TASER X26 ECDs; 712 TASER CAM units; and 65,000 TASER cartridges. The products should be shipped by the end of this year. These orders represent a major win for the beleagured company, which has been mired in lawsuit after lawsuit over the lethality of its stun guns. These legal issues have clearly weighed on the stock, which has lost nearly half of its value over the past seven to eight months. A court ruling yesterday also helped the shares, as a Canadian judge found that the death of a Nova Scotia man who had been Tasered five times by authorities was caused by the man's physical struggles, and not by the effects of the weapon."

TASER closed Thursday at $4.55, down $0.33, or 6.76 percent.