Digital Ally (NASDAQ:DGLY) Coverage Initiated at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Digital Ally (NASDAQ:DGLY) in a research note issued on Tuesday. The firm set a “sell” rating on the scientific and technical instruments company’s stock.

Digital Ally Price Performance

Shares of DGLY opened at $0.03 on Tuesday. The company’s 50-day moving average is $0.05 and its 200-day moving average is $0.38. The company has a debt-to-equity ratio of 1.61, a current ratio of 0.52 and a quick ratio of 0.44. The firm has a market capitalization of $306,240.00, a PE ratio of 0.00 and a beta of 1.33. Digital Ally has a fifty-two week low of $0.02 and a fifty-two week high of $3.29.

Shares of Digital Ally are scheduled to reverse split before the market opens on Wednesday, May 7th. The 1-20 reverse split was announced on Monday, May 5th. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, May 6th.

Institutional Investors Weigh In On Digital Ally

An institutional investor recently bought a new position in Digital Ally stock. Anson Funds Management LP purchased a new position in shares of Digital Ally, Inc. (NASDAQ:DGLY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 336,824 shares of the scientific and technical instruments company’s stock, valued at approximately $177,000. Anson Funds Management LP owned 6.09% of Digital Ally as of its most recent filing with the Securities and Exchange Commission (SEC). 4.19% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through three segments: Video Solutions, Revenue Cycle Management, and Entertainment. 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; body-worn digital video systems for law enforcement and private security; and VuLink ecosystem that provides intuitive auto-activation functionality as well as coordination between multiple recording devices.