Digital Ally, Inc. (NASDAQ:KUST) Stock Short Interest Declines 75.8%

Digital Ally, Inc. (NASDAQ:KUST) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 45,813 shares, a drop of 75.8% from the August 31st total of 189,609 shares. Based on an average daily volume of 997,363 shares, the short-interest ratio is presently 0.0 days. Currently, 0.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KUST shares. Weiss Ratings cut Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a research note on Monday, September 21st. Wall Street Zen raised Digital Ally from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Ally currently has an average rating of “Sell”.

Digital Ally Price Performance

Digital Ally stock traded down $0.02 during trading hours on Monday, reaching $0.61. The stock had a trading volume of 69,890 shares, compared to its average volume of 2,586,839. The stock has a market cap of $3.96 million, a PE ratio of -0.04 and a beta of 1.30. Digital Ally has a 52 week low of $0.58 and a 52 week high of $32.40. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $1.00.

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

Insider Buying and Selling

In related news, major shareholder Financial Lp Hrt sold 54,638 shares of Digital Ally 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 transaction, the insider owned 17,869 shares in the company, valued at $25,731.36. This trade represents a 75.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.01% of the stock is currently owned by insiders.

About Digital Ally

Digital Ally, Inc developed and marketed video-recording, safety and security technology for law-enforcement agencies, commercial fleets and other professional users. Its products historically included body-worn cameras, in-car video systems, mobile and fixed surveillance equipment, digital video recorders, accessories and related software.

The company’s solutions were designed to help organizations capture, store and manage video evidence, improve situational awareness and support fleet and personnel oversight.