Short Interest in Digital Ally, Inc. (NASDAQ:DGLY) Grows By 207.1%

Digital Ally, Inc. (NASDAQ:DGLY) was the target of a significant growth in short interest in February. As of February 28th, there was short interest totalling 737,600 shares, a growth of 207.1% from the February 13th total of 240,200 shares. Approximately 14.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,530,000 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Digital Ally

An institutional investor recently bought a new position in Digital Ally stock. Anson Funds Management LP purchased a new stake in shares of Digital Ally, Inc. (NASDAQ:DGLY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 4.19% of the company’s stock.

Digital Ally Price Performance

Shares of NASDAQ:DGLY traded up $0.00 during midday trading on Friday, hitting $0.08. The stock had a trading volume of 55,005,419 shares, compared to its average volume of 27,080,000. The company’s 50-day moving average price is $0.23 and its 200-day moving average price is $0.67. Digital Ally has a fifty-two week low of $0.06 and a fifty-two week high of $3.29. The company has a quick ratio of 0.44, a current ratio of 0.52 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $774,720.00, a P/E ratio of -0.01 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Digital Ally in a report on Tuesday. They issued a “sell” rating for the company.

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.