Short Interest in Digital Ally, Inc. (NASDAQ:KUST) Expands By 76.7%

Digital Ally, Inc. (NASDAQ:KUST) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 189,609 shares, a growth of 76.7% from the August 15th total of 107,281 shares. Based on an average daily trading volume, of 331,110 shares, the short-interest ratio is presently 0.6 days. Approximately 2.9% of the shares of the company are short sold.

Digital Ally Price Performance

Shares of KUST stock traded up $0.00 on Wednesday, reaching $0.59. 98,121 shares of the stock were exchanged, compared to its average volume of 2,642,290. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. Digital Ally has a one year low of $0.58 and a one year high of $34.12. The company has a market capitalization of $3.81 million, a PE ratio of -0.03 and a beta of 1.30. The firm’s 50 day moving average price is $1.06.

Digital Ally (NASDAQ:KUST) last announced its quarterly earnings data on Friday, August 14th. The company reported ($4.58) EPS for the quarter. Digital Ally had a negative return on equity of 277.67% and a negative net margin of 96.36%.The firm had revenue of $5.38 million during the quarter.

Insider Transactions at Digital Ally

In other news, major shareholder Financial Lp Hrt sold 54,638 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1.44, for a total value of $78,678.72. Following the completion of the transaction, the insider owned 17,869 shares in the company, valued at approximately $25,731.36. This represents a 75.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.01% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings raised shares of Digital Ally from a “sell (e)” rating to a “sell (e+)” rating in a report on Thursday, August 27th. Wall Street Zen upgraded Digital Ally from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

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 and internationally. It operates through Video Solutions, Revenue Cycle Management, and Ticketing segments. 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; miniature body-worn digital video systems for law enforcement and private security; and VuLink, an in-car device that enables an in-car digital audio/video system and a body worn digital audio/video camera system to automatically and simultaneously start recording.