Digital Ally, Inc. (NASDAQ:KUST) Sees Significant Growth in Short Interest

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

Digital Ally Price Performance

NASDAQ KUST traded up $0.02 during mid-day trading on Thursday, hitting $0.61. The company’s stock had a trading volume of 485,164 shares, compared to its average volume of 2,630,237. The stock has a market cap of $3.97 million, a price-to-earnings ratio of -0.04 and a beta of 1.30. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.25. Digital Ally has a 52-week low of $0.58 and a 52-week high of $34.12. The company has a fifty day moving average price of $1.06.

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

Wall Street Analyst Weigh In

KUST has been the topic of several recent analyst reports. Weiss Ratings raised shares of Digital Ally from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, August 27th. Wall Street Zen raised shares of 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, Based on data from MarketBeat.com, Digital Ally currently has a consensus rating of “Sell”.

Insider Activity at Digital Ally

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

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.