Digital Ally, Inc. (NASDAQ:KUST) Short Interest Up 135.9% in July

Digital Ally, Inc. (NASDAQ:KUST) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 695,577 shares, a growth of 135.9% from the July 15th total of 294,883 shares. Based on an average daily trading volume, of 10,408,188 shares, the short-interest ratio is presently 0.1 days. Approximately 110.9% of the company’s stock are short sold.

Digital Ally Trading Down 10.2%

NASDAQ:KUST traded down $0.14 during trading hours on Friday, reaching $1.23. 971,899 shares of the stock were exchanged, compared to its average volume of 7,189,562. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. Digital Ally has a 52 week low of $0.85 and a 52 week high of $36.90. The company has a market cap of $774,900.00, a PE ratio of -0.02 and a beta of 1.32.

Digital Ally (NASDAQ:KUST) last posted its earnings results on Friday, August 14th. The company reported ($4.58) EPS for the quarter. The company had revenue of $5.38 million for the quarter. Digital Ally had a negative net margin of 112.61% and a negative return on equity of 212.14%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KUST. Weiss Ratings upgraded Digital Ally from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Digital Ally to a “sell” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Digital Ally has an average rating of “Sell”.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 54,638 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1.44, for a total value of $78,678.72. Following the completion of the sale, the insider owned 17,869 shares in the company, valued at approximately $25,731.36. This trade represents a 75.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.01% 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 and internationally. It operates through Video Solutions, Revenue Cycle Management, and Ticketing segments. 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; miniature body-worn digital video systems for law enforcement and private security; and VuLink, an in-car device that enables an in-car digital audio/video system and a body worn digital audio/video camera system to automatically and simultaneously start recording.