Short Interest in Digital Ally, Inc. (NASDAQ:KUST) Expands By 135.9%

Digital Ally, Inc. (NASDAQ:KUST) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 695,577 shares, a growth of 135.9% from the July 15th total of 294,883 shares. Based on an average daily trading volume, of 10,408,188 shares, the days-to-cover ratio is presently 0.1 days. Currently, 110.9% of the company’s stock are sold short.

Analyst Ratings Changes

KUST has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Digital Ally from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Wall Street Zen raised Digital Ally to a “sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Digital Ally presently has an average rating of “Sell”.

Digital Ally Trading Down 10.2%

Shares of NASDAQ KUST traded down $0.14 during trading hours on Friday, hitting $1.23. 971,899 shares of the stock were exchanged, compared to its average volume of 7,189,562. Digital Ally has a 12 month low of $0.85 and a 12 month high of $36.90. The company has a quick ratio of 0.77, a current ratio of 0.99 and a debt-to-equity ratio of 0.13. The firm has a market cap of $771,210.00, a PE ratio of -0.02 and a beta of 1.32.

Digital Ally (NASDAQ:KUST) last announced its earnings results on Friday, August 14th. The company reported ($4.58) earnings per share for the quarter. Digital Ally had a negative net margin of 112.61% and a negative return on equity of 212.14%. The firm had revenue of $5.38 million during the quarter.

Insider Activity at Digital Ally

In related news, major shareholder Financial Lp Hrt sold 54,638 shares of Digital Ally stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $1.44, for a total value of $78,678.72. Following the completion of the sale, the insider directly owned 17,869 shares in the company, valued at $25,731.36. The trade was a 75.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.01% of the company’s stock.

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.