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

StockNews.com started coverage on shares of Digital Ally (NASDAQ:DGLY) in a research note issued on Wednesday. The brokerage set a “sell” rating on the scientific and technical instruments company’s stock.

Digital Ally Stock Performance

Digital Ally stock opened at $2.19 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.52 and a current ratio of 0.69. The business’s 50-day simple moving average is $2.32 and its 200-day simple moving average is $2.23. The firm has a market capitalization of $6.12 million, a PE 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.

Hedge Funds Weigh In On Digital Ally

A hedge fund recently raised its stake in Digital Ally stock. Virtu Financial LLC lifted its holdings in Digital Ally, Inc. (NASDAQ:DGLY) by 449.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period. 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.