Digital Ally, Inc. (NASDAQ:DGLY) Short Interest Up 243.0% in March

Digital Ally, Inc. (NASDAQ:DGLY) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,530,000 shares, a growth of 243.0% from the February 28th total of 737,600 shares. Based on an average daily volume of 24,730,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 48.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

Digital Ally Stock Down 20.7 %

DGLY opened at $0.03 on Friday. The business’s fifty day simple moving average is $0.14 and its 200 day simple moving average is $0.58. Digital Ally has a 52 week low of $0.03 and a 52 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 stock has a market cap of $326,400.00, a PE ratio of -0.01 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Digital Ally in a research note on Thursday. 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.