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

Digital Ally, Inc. (NASDAQ:KUST) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 317,435 shares, an increase of 180.0% from the June 15th total of 113,364 shares. Currently, 50.6% of the company’s shares are sold short. Based on an average daily volume of 12,111,254 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of Digital Ally in a research report on Wednesday, July 1st. They set a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 54,638 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1.44, for a total transaction of $78,678.72. Following the completion of the sale, the insider directly owned 17,869 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Insiders own 0.01% of the company’s stock.

Digital Ally Trading Up 1.3%

Shares of KUST traded up $0.01 during midday trading on Monday, hitting $0.97. 196,061 shares of the stock were exchanged, compared to its average volume of 1,644,680. Digital Ally has a 52-week low of $0.85 and a 52-week high of $36.90. The firm has a market cap of $608,958.00, a P/E ratio of -0.02 and a beta of 1.35. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.13.

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.