Digital Ally, Inc. (NASDAQ:DGLY) Sees Significant Drop in Short Interest

Digital Ally, Inc. (NASDAQ:DGLY) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 147,800 shares, a drop of 5.6% from the March 15th total of 156,600 shares. Approximately 5.7% of the company’s shares are sold short. Based on an average trading volume of 13,500 shares, the short-interest ratio is currently 10.9 days.

Analysts Set New Price Targets

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

Digital Ally Price Performance

DGLY stock opened at $2.19 on Thursday. The company has a fifty day moving average price of $2.32 and a 200-day moving average price of $2.23. The company has a market capitalization of $6.13 million, a P/E ratio of -0.24 and a beta of 0.81. Digital Ally has a 52-week low of $1.73 and a 52-week high of $5.79. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.69.

Hedge Funds Weigh In On Digital Ally

A hedge fund recently raised its stake in Digital Ally stock. BlackRock Inc. grew its holdings in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 159.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,457,820 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,512,005 shares during the period. BlackRock Inc. owned about 4.56% of Digital Ally worth $1,121,000 as of its most recent SEC filing. Institutional investors own 4.19% of the company’s stock.

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.