Digital Ally, Inc. (NASDAQ:DGLY) Short Interest Update

Digital Ally, Inc. (NASDAQ:DGLY) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 2,530,000 shares, an increase of 243.0% from the February 28th total of 737,600 shares. Based on an average daily trading volume, of 24,730,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 48.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Digital Ally in a research report on Thursday. They set a “sell” rating on the stock.

Digital Ally Stock Performance

Shares of NASDAQ DGLY traded down $0.01 during trading on Thursday, reaching $0.04. 43,428,978 shares of the stock traded hands, compared to its average volume of 7,860,788. The company has a 50-day moving average of $0.16 and a 200-day moving average of $0.60. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.52 and a quick ratio of 0.44. Digital Ally has a 52-week low of $0.03 and a 52-week high of $3.29. The stock has a market capitalization of $394,560.00, a P/E ratio of -0.01 and a beta of 1.06.

Digital Ally (NASDAQ:DGLY) last posted its earnings results on Monday, December 30th. The scientific and technical instruments company reported ($0.91) EPS for the quarter. Digital Ally had a negative return on equity of 407.65% and a negative net margin of 93.21%.

Hedge Funds Weigh In On Digital Ally

An institutional investor recently bought a new position in Digital Ally stock. Anson Funds Management LP acquired a new position in Digital Ally, Inc. (NASDAQ:DGLY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 336,824 shares of the scientific and technical instruments company’s stock, valued at approximately $177,000. Anson Funds Management LP owned 6.09% of Digital Ally as of its most recent filing with the Securities & Exchange Commission. 4.19% of the stock is currently owned by institutional investors and hedge funds.

Digital Ally Company Profile

Digital Ally, Inc produces and sells digital video imaging, storage, and disinfectant and related safety products for use in law enforcement, security, and commercial applications in the United States. It operates through three segments: Video Solutions, Revenue Cycle Management, and Entertainment. The company offers in-car digital video mirror systems for law enforcement; in-car digital video event recorder systems for commercial fleets; a suite of data management web-based tools to assist fleet managers in the organization, archival, and management of videos and telematics information; body-worn digital video systems for law enforcement and private security; and VuLink ecosystem that provides intuitive auto-activation functionality as well as coordination between multiple recording devices.