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

Digital Ally, Inc. (NASDAQ:DGLY) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 147,800 shares, a decline of 5.6% from the March 15th total of 156,600 shares. Based on an average daily volume of 13,500 shares, the short-interest ratio is currently 10.9 days. Currently, 5.7% of the shares of the company are short sold.

Institutional Trading of Digital Ally

An institutional investor recently raised its position in Digital Ally stock. Virtu Financial LLC lifted its holdings in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 449.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,945 shares of the scientific and technical instruments company’s stock after buying an additional 61,305 shares during the period. Virtu Financial LLC owned about 0.15% of Digital Ally worth $59,000 at the end of the most recent reporting period. Institutional investors own 4.19% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Digital Ally in a research note on Wednesday. They set a “sell” rating for the company.

Digital Ally Stock Down 1.8 %

DGLY traded down $0.04 on Wednesday, hitting $2.17. 524 shares of the company traded hands, compared to its average volume of 12,475. The company has a 50 day moving average of $2.31 and a 200-day moving average of $2.23. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 0.42. Digital Ally has a 12-month low of $1.73 and a 12-month high of $5.79.

Digital Ally Company Profile

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.