Digital Ally Inc. (NASDAQ:DGLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “
Separately, Maxim Group began coverage on Digital Ally in a research note on Thursday, August 18th. They issued a “buy” rating and a $15.00 target price for the company.
Digital Ally (NASDAQ:DGLY) opened at 5.53 on Tuesday. The company’s market capitalization is $29.74 million. The company has a 50 day moving average price of $5.87 and a 200-day moving average price of $4.91. Digital Ally has a 52 week low of $3.51 and a 52 week high of $9.00.
Digital Ally (NASDAQ:DGLY) last posted its earnings results on Friday, August 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.34. Digital Ally had a negative net margin of 52.88% and a negative return on equity of 54.29%. The business earned $4.40 million during the quarter, compared to analyst estimates of $5.85 million. Digital Ally’s revenue for the quarter was down 21.4% compared to the same quarter last year. On average, equities analysts anticipate that Digital Ally will post ($1.34) earnings per share for the current fiscal year.
In other news, Director Elliot M. Kaplan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $6.31, for a total transaction of $31,550.00. Following the completion of the transaction, the director now directly owns 54,361 shares of the company’s stock, valued at $343,017.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.20% of the company’s stock.
About Digital Ally
Digital Ally, Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies.
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