Digital Ally (DGLY) Lifted to “Hold” at Zacks Investment Research

Digital Ally (NASDAQ:DGLY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “

A number of other research firms also recently issued reports on DGLY. Maxim Group downgraded Digital Ally from a “buy” rating to a “hold” rating and set a $4.00 target price for the company. in a research report on Friday, April 13th. Westpark Capital reissued a “buy” rating and issued a $5.00 target price on shares of Digital Ally in a research report on Monday. Finally, ValuEngine raised Digital Ally from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd.

NASDAQ:DGLY traded up $0.07 during trading hours on Thursday, reaching $2.57. The stock had a trading volume of 32,300 shares, compared to its average volume of 54,339. Digital Ally has a 12-month low of $1.70 and a 12-month high of $4.95. The company has a market capitalization of $17.83 million, a P/E ratio of -1.71 and a beta of 2.52.

Digital Ally (NASDAQ:DGLY) last released its earnings results on Tuesday, May 15th. The scientific and technical instruments company reported ($0.26) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.15. Digital Ally had a negative return on equity of 531.26% and a negative net margin of 108.35%. The business had revenue of $2.47 million during the quarter. analysts forecast that Digital Ally will post -0.41 EPS for the current year.

About Digital Ally

Digital Ally, Inc produces and sells digital video imaging and storage products for use in law enforcement, security, and commercial applications in the United States and internationally. Its digital audio/video recording, storage, and other products include an in-car digital audio/video recorder that is contained in a rear view mirror for law enforcement vehicles and commercial fleets; and hands-free automatic activated body-worn cameras and in-car video systems, as well as provides its law enforcement customers with audio/video surveillance from multiple vantage points.

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