Zacks Investment Research upgraded shares of Digital Ally Inc. (NASDAQ:DGLY) from a sell rating to a hold rating in a research report report published on Tuesday.
According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “
Separately, Maxim Group assumed coverage on Digital Ally in a report on Thursday, August 18th. They issued a buy rating and a $15.00 price target on the stock.
Shares of Digital Ally (NASDAQ:DGLY) opened at 5.67 on Tuesday. The stock’s market capitalization is $30.49 million. The firm’s 50-day moving average price is $5.83 and its 200-day moving average price is $4.92. Digital Ally has a 52-week low of $3.51 and a 52-week high of $9.00.
Digital Ally (NASDAQ:DGLY) last released its earnings results on Friday, August 5th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.34. The firm had revenue of $4.40 million for the quarter, compared to the consensus estimate of $5.85 million. Digital Ally had a negative return on equity of 54.29% and a negative net margin of 52.88%. The firm’s revenue was down 21.4% on a year-over-year basis. Equities analysts forecast that Digital Ally will post ($1.34) earnings per share for the current fiscal year.
In related news, Director Elliot M. Kaplan sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $6.31, for a total value of $31,550.00. Following the sale, the director now owns 54,361 shares of the company’s stock, valued at approximately $343,017.91. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.20% of the stock is owned by corporate insiders.
Digital Ally Company Profile
Digital Ally, Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies.