Digital Ally, Inc. (DGLY) Issues Earnings Results
Digital Ally, Inc. (NASDAQ:DGLY) released its quarterly earnings results on Monday. The scientific and technical instruments company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.17, Bloomberg Earnings reports. The company had revenue of $3.50 million for the quarter, compared to analyst estimates of $4.95 million. Digital Ally had a negative net margin of 71.44% and a negative return on equity of 115.56%. Digital Ally’s revenue for the quarter was down 20.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.54) EPS.
Digital Ally (NASDAQ DGLY) traded down 8.20% during trading on Tuesday, hitting $2.80. 82,839 shares of the company’s stock traded hands. The company’s 50 day moving average is $3.47 and its 200-day moving average is $4.03. Digital Ally has a 12 month low of $2.70 and a 12 month high of $6.99. The stock’s market cap is $15.90 million.
A hedge fund recently raised its stake in Digital Ally stock. Wells Fargo & Company MN boosted its position in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 3.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,617 shares of the scientific and technical instruments company’s stock after buying an additional 1,283 shares during the period. Wells Fargo & Company MN owned approximately 0.64% of Digital Ally worth $157,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 6.57% of the company’s stock.
DGLY has been the subject of a number of analyst reports. Westpark Capital set a $9.00 price target on Digital Ally and gave the company a “buy” rating in a research note on Monday, May 1st. ValuEngine raised shares of Digital Ally from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 17th. Finally, Zacks Investment Research raised shares of Digital Ally from a “sell” rating to a “hold” rating in a research report on Tuesday, May 30th.
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About Digital Ally
Digital Ally, Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies.
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