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

Digital Ally, Inc. (NASDAQ:DGLY) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 24,270,000 shares, a growth of 859.3% from the March 15th total of 2,530,000 shares. Based on an average daily volume of 53,190,000 shares, the short-interest ratio is presently 0.5 days. Currently, 468.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on Digital Ally in a research note on Saturday. They issued a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Digital Ally stock. Anson Funds Management LP bought 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 SEC. The institutional investor bought 336,824 shares of the scientific and technical instruments company’s stock, valued at approximately $177,000. Anson Funds Management LP owned about 6.09% of Digital Ally at the end of the most recent reporting period. Institutional investors and hedge funds own 4.19% of the company’s stock.

Digital Ally Trading Up 1.0 %

NASDAQ DGLY opened at $0.03 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 1.61. Digital Ally has a 52 week low of $0.02 and a 52 week high of $3.29. The business has a 50 day moving average price of $0.07 and a 200-day moving average price of $0.48. The company has a market cap of $281,280.00, a price-to-earnings ratio of 0.00 and a beta of 1.33.

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.