Digital Ally, Inc. (NASDAQ:KUST) Shares Shorted: Short Interest Down 51.9% in October

Digital Ally, Inc. (NASDAQ:KUST) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 105,752 shares, a drop of 51.9% from the September 30th total of 219,707 shares. Approximately 16.2% of the shares of the stock are short sold. Based on an average daily volume of 79,874 shares, the short-interest ratio is presently 1.3 days.

Digital Ally Stock Up 1.6%

KUST traded up $0.05 during mid-day trading on Friday, reaching $3.26. 1,131 shares of the company traded hands, compared to its average volume of 45,721. The firm has a market cap of $2.12 million, a PE ratio of -0.02 and a beta of 1.39. 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 stock’s fifty day moving average is $5.92. Digital Ally has a 52-week low of $2.97 and a 52-week high of $267.00.

Digital Ally (NASDAQ:KUST) last announced its quarterly earnings results on Friday, August 14th. The company reported ($45.80) EPS for the quarter. Digital Ally had a negative return on equity of 277.67% and a negative net margin of 96.36%. The company had revenue of $5.38 million during the quarter.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KUST shares. Weiss Ratings downgraded shares of Digital Ally from a “sell (e+)” rating to a “sell (e)” rating in a research report on Monday, October 26th. Wall Street Zen upgraded Digital Ally from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Digital Ally

Digital Ally, Inc historically developed and sold video-recording, security and public-safety technology. Its products included body-worn cameras, in-car video systems, fleet and asset-tracking solutions, and related software designed to help law-enforcement agencies, commercial fleets and other organizations capture, manage and preserve digital evidence.

The company also offered cloud-based evidence-management and video-storage services, as well as products used for workforce monitoring and safety applications.