Aegis Initiates Coverage on Digital Ally (NASDAQ:DGLY)

Aegis started coverage on shares of Digital Ally (NASDAQ:DGLY) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $5.00 price target on the scientific and technical instruments company’s stock. Aegis’ price objective would indicate a potential upside of 59.24% from the stock’s current price.

Digital Ally stock opened at $3.14 on Monday. The firm has a market capitalization of $74.69 million, a P/E ratio of -4.19 and a beta of 0.73. Digital Ally has a 1 year low of $0.64 and a 1 year high of $7.10. The business has a 50-day moving average of $2.49 and a 200-day moving average of $1.37.

Digital Ally (NASDAQ:DGLY) last posted its earnings results on Wednesday, May 20th. The scientific and technical instruments company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.14. The company had revenue of $2.43 million for the quarter.

In other news, CFO Thomas J. Heckman sold 110,000 shares of Digital Ally stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $7.04, for a total transaction of $774,400.00. Following the transaction, the chief financial officer now owns 918,984 shares in the company, valued at approximately $6,469,647.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 20.80% of the stock is currently owned by insiders.

An institutional investor recently bought a new position in Digital Ally stock. Barclays PLC acquired a new stake in shares of Digital Ally, Inc. (NASDAQ:DGLY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 30,800 shares of the scientific and technical instruments company’s stock, valued at approximately $31,000. Barclays PLC owned approximately 0.24% of Digital Ally at the end of the most recent reporting period. Institutional investors and hedge funds own 3.64% of the company’s stock.

Digital Ally Company Profile

Digital Ally, Inc produces and sells digital video imaging and storage products for use in law enforcement, security, and commercial applications in the United States and internationally. Its digital audio/video recording, storage, and other products include an in-car digital audio/video recorder that is contained in a rear view mirror for law enforcement vehicles and commercial fleets; and hands-free automatic activated body-worn cameras and in-car video systems, as well as provides its law enforcement customers with audio/video surveillance from multiple vantage points.

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