Short Interest in Digital Ally, Inc. (NASDAQ:DGLY) Decreases By 5.6%

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

Hedge Funds Weigh In On Digital Ally

An institutional investor recently raised its position in Digital Ally stock. Virtu Financial LLC raised its position in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 449.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,945 shares of the scientific and technical instruments company’s stock after purchasing an additional 61,305 shares during the period. Virtu Financial LLC owned 0.15% of Digital Ally worth $59,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 4.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Digital Ally in a report on Tuesday, April 9th. They issued a “sell” rating for the company.

Digital Ally Price Performance

DGLY stock opened at $2.15 on Tuesday. The company has a quick ratio of 0.52, a current ratio of 0.69 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average of $2.31 and a 200-day moving average of $2.23. Digital Ally has a 12-month low of $1.73 and a 12-month high of $5.79.

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.