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

Digital Ally, Inc. (NASDAQ:KUST) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 105,752 shares, a decrease of 51.9% from the September 30th total of 219,707 shares. Approximately 16.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 79,874 shares, the days-to-cover ratio is currently 1.3 days.

Digital Ally Stock Up 1.6%

NASDAQ:KUST traded up $0.05 during trading hours on Friday, reaching $3.26. The company had a trading volume of 1,130 shares, compared to its average volume of 234,383. The firm has a market cap of $2.12 million, a price-to-earnings ratio of -0.02 and a beta of 1.39. Digital Ally has a one year low of $2.97 and a one year high of $267.00. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 0.25. The business has a 50-day simple moving average of $6.05.

Digital Ally (NASDAQ:KUST) last posted its quarterly earnings data on Friday, August 14th. The company reported ($45.80) earnings per share for the quarter. Digital Ally had a negative net margin of 96.36% and a negative return on equity of 277.67%. The company had revenue of $5.38 million during the quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Digital Ally from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings cut Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a report on Monday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Digital Ally

Digital Ally, Inc historically developed and sold video-recording, security and public-safety technology. Its products included body-worn cameras, in-car video systems, fleet and asset-tracking solutions, and related software designed to help law-enforcement agencies, commercial fleets and other organizations capture, manage and preserve digital evidence.

The company also offered cloud-based evidence-management and video-storage services, as well as products used for workforce monitoring and safety applications.