Digital Ally, Inc. (NASDAQ:DGLY) Sees Large Growth in Short Interest

Digital Ally, Inc. (NASDAQ:DGLY) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,530,000 shares, an increase of 243.0% from the February 28th total of 737,600 shares. Currently, 48.8% of the company’s shares are sold short. Based on an average daily trading volume, of 24,730,000 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Digital Ally in a report on Thursday. They set a “sell” rating for the company.

Institutional Trading of Digital Ally

A hedge fund recently bought a new stake in Digital Ally stock. Anson Funds Management LP acquired a new position in Digital Ally, Inc. (NASDAQ:DGLY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 336,824 shares of the scientific and technical instruments company’s stock, valued at approximately $177,000. Anson Funds Management LP owned 6.09% of Digital Ally as of its most recent filing with the Securities & Exchange Commission. 4.19% of the stock is currently owned by hedge funds and other institutional investors.

Digital Ally Trading Down 20.7 %

NASDAQ:DGLY opened at $0.03 on Friday. The company has a 50-day moving average price of $0.14 and a 200-day moving average price of $0.58. The stock has a market cap of $326,400.00, a price-to-earnings ratio of -0.01 and a beta of 1.06. The company has a current ratio of 0.52, a quick ratio of 0.44 and a debt-to-equity ratio of 1.61. Digital Ally has a 12 month low of $0.03 and a 12 month high of $3.29.

Digital Ally (NASDAQ:DGLY) last posted its quarterly earnings data on Monday, December 30th. The scientific and technical instruments company reported ($0.91) earnings per share for the quarter. Digital Ally had a negative net margin of 93.21% and a negative return on equity of 407.65%.

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.