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

Digital Ally, Inc. (NASDAQ:KUST) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 45,813 shares, a drop of 75.8% from the August 31st total of 189,609 shares. Based on an average daily trading volume, of 997,363 shares, the short-interest ratio is presently 0.0 days. Approximately 0.7% of the company’s stock are short sold.

Digital Ally Price Performance

Shares of KUST remained flat at $0.63 during mid-day trading on Friday. The stock had a trading volume of 162,296 shares, compared to its average volume of 1,063,777. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.80 and a quick ratio of 0.78. The business’s 50 day moving average is $1.00. Digital Ally has a 12-month low of $0.58 and a 12-month high of $32.40. The stock has a market cap of $4.09 million, a PE ratio of -0.04 and a beta of 1.30.

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

Insiders Place Their Bets

In other Digital Ally news, major shareholder Financial Lp Hrt sold 54,638 shares of Digital Ally 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 sale, the insider directly owned 17,869 shares of the company’s stock, valued at approximately $25,731.36. The trade was a 75.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday. Wall Street Zen raised Digital Ally from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Ally presently has an average rating of “Sell”.

About Digital Ally

Digital Ally, Inc developed and marketed video-recording, safety and security technology for law-enforcement agencies, commercial fleets and other professional users. Its products historically included body-worn cameras, in-car video systems, mobile and fixed surveillance equipment, digital video recorders, accessories and related software.

The company’s solutions were designed to help organizations capture, store and manage video evidence, improve situational awareness and support fleet and personnel oversight.