Digital Ally, Inc. (NASDAQ:DGLY) Short Interest Up 243.0% in March

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Digital Ally in a research note on Thursday. They issued a “sell” rating for the company.

Institutional Trading of Digital Ally

An institutional investor recently bought a new position in Digital Ally stock. Anson Funds Management LP purchased a new position in shares of Digital Ally, Inc. (NASDAQ:DGLY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing. 4.19% of the stock is currently owned by institutional investors and hedge funds.

Digital Ally Price Performance

NASDAQ DGLY traded down $0.01 during trading on Thursday, reaching $0.04. 43,428,978 shares of the company traded hands, compared to its average volume of 7,860,788. Digital Ally has a 1-year low of $0.03 and a 1-year high of $3.29. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.44 and a current ratio of 0.52. The stock’s 50 day moving average price is $0.16 and its two-hundred day moving average price is $0.60. The company has a market cap of $394,560.00, a price-to-earnings ratio of -0.01 and a beta of 1.06.

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

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.