Zacks Investment Research Downgrades Digital Ally Inc. (DGLY) to Sell
Digital Ally Inc. (NASDAQ:DGLY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “
A number of other research firms have also weighed in on DGLY. Maxim Group started coverage on shares of Digital Ally in a research note on Thursday, August 18th. They set a “buy” rating and a $15.00 target price on the stock. Westpark Capital restated an “outperform” rating and set a $9.00 target price on shares of Digital Ally in a research note on Saturday, October 22nd.
Digital Ally (NASDAQ:DGLY) opened at 5.10 on Tuesday. Digital Ally has a 12-month low of $3.51 and a 12-month high of $9.00. The stock’s 50 day moving average is $5.59 and its 200 day moving average is $5.08. The stock’s market capitalization is $27.43 million.
In other Digital Ally news, Director Elliot M. Kaplan sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $6.31, for a total value of $31,550.00. Following the transaction, the director now directly owns 54,361 shares in the company, valued at $343,017.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.20% of the stock is currently owned by company insiders.
Digital Ally Company Profile
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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