Zacks Investment Research upgraded shares of Digital Ally, Inc. (NASDAQ:DGLY) from a hold rating to a buy rating in a research report released on Wednesday morning. The brokerage currently has $2.50 price objective on the scientific and technical instruments company’s stock.
According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “
Several other research analysts also recently weighed in on the stock. Westpark Capital set a $8.00 target price on shares of Digital Ally and gave the stock a buy rating in a research report on Friday, October 20th. Maxim Group restated a buy rating and set a $9.00 price target on shares of Digital Ally in a report on Friday, October 20th. Finally, ValuEngine cut shares of Digital Ally from a sell rating to a strong sell rating in a report on Friday, September 1st.
Shares of Digital Ally (NASDAQ:DGLY) traded up 2.5692% during trading on Wednesday, hitting $2.0001. 158,412 shares of the company traded hands. The stock’s market cap is $11.36 million. The firm has a 50 day moving average price of $2.53 and a 200-day moving average price of $3.34. Digital Ally has a one year low of $1.95 and a one year high of $6.15.
Digital Ally (NASDAQ:DGLY) last released its earnings results on Monday, August 14th. The scientific and technical instruments company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.17). The firm had revenue of $3.50 million during the quarter, compared to analysts’ expectations of $4.95 million. Digital Ally had a negative return on equity of 148.01% and a negative net margin of 72.07%. The business’s revenue was down 20.5% on a year-over-year basis. During the same period last year, the business earned ($0.54) earnings per share. Analysts predict that Digital Ally will post ($1.31) EPS for the current year.
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An institutional investor recently raised its position in Digital Ally stock. Wells Fargo & Company MN raised its holdings in Digital Ally, Inc. (NASDAQ:DGLY) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,617 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,283 shares during the quarter. Wells Fargo & Company MN owned about 0.64% of Digital Ally worth $157,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 4.22% of the company’s stock.
Digital Ally Company Profile
Digital Ally, Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies.
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