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

Digital Ally, Inc. (NASDAQ:KUST) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 107,281 shares, a decrease of 84.6% from the July 30th total of 695,577 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 2,052,916 shares, the short-interest ratio is presently 0.1 days.

Insider Transactions at Digital Ally

In other Digital Ally news, major shareholder Financial Lp Hrt sold 54,638 shares of the stock in a transaction on 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 transaction, 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 SEC, which can be accessed through this hyperlink. Insiders own 0.01% of the company’s stock.

Digital Ally Stock Down 3.6%

KUST stock traded down $0.04 on Friday, hitting $0.93. 118,834 shares of the company’s stock traded hands, compared to its average volume of 3,454,100. Digital Ally has a 1-year low of $0.85 and a 1-year high of $36.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.80 and a quick ratio of 0.78. The stock’s fifty day moving average is $1.13.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KUST shares. Wall Street Zen upgraded Digital Ally from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings lowered Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Digital Ally Company Profile

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.