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

StockNews.com assumed coverage on shares of Digital Ally (NASDAQ:DGLY) in a report released on Thursday morning. The brokerage issued a sell rating on the scientific and technical instruments company’s stock.

Digital Ally Trading Down 23.9 %

Shares of Digital Ally stock opened at $2.45 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.87 and a quick ratio of 0.62. Digital Ally has a 52 week low of $2.43 and a 52 week high of $12.64. The stock has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $3.84.

Digital Ally (NASDAQ:DGLY) last announced its earnings results on Monday, August 14th. The scientific and technical instruments company reported ($3.01) earnings per share (EPS) for the quarter. The company had revenue of $8.28 million for the quarter. Digital Ally had a negative net margin of 78.33% and a negative return on equity of 75.67%.

Institutional Trading of Digital Ally

A hedge fund recently raised its stake in Digital Ally stock. Virtu Financial LLC increased its holdings in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 449.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,945 shares of the scientific and technical instruments company’s stock after acquiring an additional 61,305 shares during the quarter. Virtu Financial LLC owned approximately 0.15% of Digital Ally worth $59,000 as of its most recent SEC filing. 7.64% of the stock is owned by institutional investors and hedge funds.

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.