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

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

Analysts Set New Price Targets

KUST has been the subject of several research analyst reports. Wall Street Zen raised Digital Ally from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Digital Ally currently has an average rating of “Sell”.

Digital Ally Price Performance

NASDAQ KUST traded up $0.03 on Wednesday, hitting $0.94. 89,450 shares of the stock traded hands, compared to its average volume of 2,803,027. The company has a current ratio of 0.80, a quick ratio of 0.78 and a debt-to-equity ratio of 0.25. Digital Ally has a 12 month low of $0.85 and a 12 month high of $36.90. The firm has a market cap of $6.11 million, a price-to-earnings ratio of -0.06 and a beta of 1.32.

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

Insider Activity

In other Digital Ally news, major shareholder Financial Lp Hrt sold 54,638 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.01% of the company’s stock.

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.