Digital Ally, Inc. (NASDAQ:DGLY) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 933,337 shares, a growth of 30.8% from the October 13th total of 713,592 shares. Based on an average daily trading volume, of 569,177 shares, the short-interest ratio is presently 1.6 days. Currently, 16.1% of the shares of the stock are short sold.

Several brokerages recently weighed in on DGLY. Zacks Investment Research downgraded shares of Digital Ally from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Maxim Group set a $9.00 target price on shares of Digital Ally and gave the stock a “buy” rating in a report on Tuesday, August 15th. Westpark Capital set a $8.00 target price on shares of Digital Ally and gave the stock a “buy” rating in a report on Wednesday, August 16th. Finally, ValuEngine downgraded shares of Digital Ally from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st.

An institutional investor recently raised its position in Digital Ally stock. Wells Fargo & Company MN raised its stake in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 3.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,617 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,283 shares during the period. Wells Fargo & Company MN owned 0.64% of Digital Ally worth $157,000 as of its most recent filing with the Securities & Exchange Commission. 4.22% of the stock is currently owned by institutional investors.

Digital Ally (DGLY) opened at $2.30 on Thursday. Digital Ally has a 1-year low of $1.70 and a 1-year high of $6.00.

Digital Ally (NASDAQ:DGLY) last issued its earnings results on Monday, August 14th. The scientific and technical instruments company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $3.50 million during the quarter, compared to the consensus estimate of $4.95 million. Digital Ally had a negative return on equity of 179.20% and a negative net margin of 80.08%. The company’s quarterly revenue was down 20.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) EPS. sell-side analysts anticipate that Digital Ally will post -1.25 earnings per share for the current fiscal year.

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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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