Digital Ally, Inc. (NASDAQ:KUST) Sees Significant Decline in Short Interest

Digital Ally, Inc. (NASDAQ:KUST) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 105,752 shares, a drop of 51.9% from the September 30th total of 219,707 shares. Approximately 16.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 79,874 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KUST shares. Wall Street Zen raised shares of Digital Ally from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings cut Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Digital Ally Trading Up 1.6%

Shares of Digital Ally stock traded up $0.05 during trading on Friday, hitting $3.26. 1,130 shares of the stock traded hands, compared to its average volume of 234,383. The stock has a market cap of $2.12 million, a price-to-earnings ratio of -0.02 and a beta of 1.39. The firm’s fifty day moving average is $6.05. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. Digital Ally has a 52-week low of $2.97 and a 52-week high of $267.00.

Digital Ally (NASDAQ:KUST) last released its earnings results on Friday, August 14th. The company reported ($45.80) earnings per share for the quarter. The company had revenue of $5.38 million for the quarter. Digital Ally had a negative return on equity of 277.67% and a negative net margin of 96.36%.

Digital Ally Company Profile

Digital Ally, Inc historically developed and sold video-recording, security and public-safety technology. Its products included body-worn cameras, in-car video systems, fleet and asset-tracking solutions, and related software designed to help law-enforcement agencies, commercial fleets and other organizations capture, manage and preserve digital evidence.

The company also offered cloud-based evidence-management and video-storage services, as well as products used for workforce monitoring and safety applications.