StockNews.com Initiates Coverage on Digital Ally (NASDAQ:DGLY)

Analysts at StockNews.com initiated coverage on shares of Digital Ally (NASDAQ:DGLY) in a note issued to investors on Wednesday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Digital Ally Price Performance

Shares of DGLY opened at $0.07 on Wednesday. The business’s 50-day moving average is $0.20 and its 200-day moving average is $0.64. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.52 and a quick ratio of 0.44. The company has a market capitalization of $676,800.00, a price-to-earnings ratio of -0.01 and a beta of 1.06. Digital Ally has a fifty-two week low of $0.06 and a fifty-two week high of $3.29.

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

Institutional Trading of Digital Ally

A hedge fund recently bought a new stake in Digital Ally stock. Anson Funds Management LP purchased a new stake in shares of Digital Ally, Inc. (NASDAQ:DGLY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 336,824 shares of the scientific and technical instruments company’s stock, valued at approximately $177,000. Anson Funds Management LP owned about 6.09% of Digital Ally at the end of the most recent reporting period. 4.19% of the stock is owned by hedge funds and other institutional investors.

About Digital Ally

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.