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

Digital Ally, Inc. (NASDAQ:KUST) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 189,609 shares, a growth of 76.7% from the August 15th total of 107,281 shares. Based on an average trading volume of 331,110 shares, the short-interest ratio is currently 0.6 days. Currently, 2.9% of the company’s stock are short sold.

Insider Buying and Selling

In other Digital Ally news, major shareholder Financial Lp Hrt sold 54,638 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider directly owned 17,869 shares in the company, valued at $25,731.36. This trade represents a 75.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Digital Ally from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings upgraded Digital Ally from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, August 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Digital Ally Price Performance

KUST opened at $0.61 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.80 and a quick ratio of 0.78. The firm has a fifty day moving average price of $1.05. Digital Ally has a 1 year low of $0.58 and a 1 year high of $34.12. The company has a market cap of $3.97 million, a P/E ratio of -0.04 and a beta of 1.30.

Digital Ally (NASDAQ:KUST) last posted its earnings results on Friday, August 14th. The company reported ($4.58) earnings per share for the quarter. Digital Ally had a negative return on equity of 277.67% and a negative net margin of 96.36%.The firm had revenue of $5.38 million for the quarter.

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.