Digital Ally Inc. (NASDAQ: DGLY): Stock That Needs Special Handling

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BlackRock Fund Advisors recently announced the acquisition of new stake in Digital Ally Inc. (NASDAQ:DGLY). The institutional investor has increased its shareholding in the Industrials company by 5.64% to 74523.0 shares with purchase of 3979.0 shares. This fresh investment now brings its stake to 0.28% valued currently at $0.23 million. In addition, Barclays Capital, Inc. raised its holdings by 4600.0 to 35400.0 shares.

With over 0.75 million Digital Ally Inc. (DGLY) shares trading Thursday and a closing price of $3.21 on the day, the dollar volume was approximately $2.41 million. The shares have shown a negative weekly performance of -6.14% and its price on 07/30/20 gained nearly 0.63%. Currently, there are 13.89M common shares owned by the public and among those 13.88M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for DGLY have a consensus price objective of $5.00. The analysts have set the share’s price value over the next 12 months at a high of $5.00 and a low of $5.00 should the stock experience a downside. The average price target is 35.8% above its last price level and an upside to the estimated low will see the stock gain 35.8% over that period. But an upside of 35.8% will see the stock hit the forecast high price target while mean target price for the stock is $5.00.

Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 538,870 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 197,651 shares.

The top 3 mutual fund holders in Digital Ally Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.57 million shares of the company’s stock, all valued at over $1.79 million. The company bought an additional 0.42 million shares recently to bring their total holdings to about 2.14% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.2 million shares to see its total holdings expand to 0.31 million shares valued at over $0.98 million and representing 1.17% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.16% of the shares outstanding.

Shares of Digital Ally Inc. (NASDAQ: DGLY) opened at $3.15, down -$0.04 from a prior closing price of $3.19. However, the script later closed the day at $3.21, up 0.63%. The company’s stock has a 5-day price change of -6.14% and 264.77% over the past three months. DGLY shares are trading 214.71% year to date (YTD), with the 12-month market performance up to 179.13% higher. It has a 12-month low price of $0.64 and touched a high of $7.10 over the same period. Currently, 0.75 million shares have been traded, compared to an average intraday trading volume of 9.57 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.38%, 5.89%, and 107.67% respectively.

Institutional ownership of Digital Ally Inc. (NASDAQ: DGLY) shares accounts for 2.30% of the company’s 13.89M shares outstanding. Mutual fund holders own 10.95%, while other institutional holders and individual stakeholders account for 3.70% and -1.48% respectively.

It has a market capitalization of $84.52M and a beta (3y monthly) value of 0.96. The earnings-per-share (ttm) stands at -$0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.65% over the week and 14.02% over the month.

Analysts forecast that Digital Ally Inc. (DGLY) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and -$0.47 for 2020. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Comparatively, EPS for the current quarter was -$0.59 a year ago. EPS should shrink at an annualized rate of 20.00% over the next five years, compared to 24.40% over the past 5-year period.

Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the DGLY, a number of firms have released research notes about the stock. Aegis Capital stated their Buy rating for the stock in a research note on June 29, 2020, with the firm’s price target at. Maxim Group coverage for the Digital Ally Inc. (DGLY) stock in a research note released on November 15, 2017 offered a Buy rating with a price target of $4. Maxim Group was of a view on August 18, 2016 that the stock is Buy, while ROTH Capital gave the stock Neutral rating on November 13, 2015, issuing a price target of $16- $7. ROTH Capital on their part issued Buy rating on August 10, 2015.

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