Set Your Sights On Digital Ally Inc. (NASDAQ: DGLY)’S Upside Potential

DE Stock
DE Stock

The Vanguard Group, Inc. has recently announced that it has increased stake in Digital Ally Inc. (NASDAQ:DGLY) by 245.71%. After grabbing 0.9 million shares, the institutional investor is now in possession of 0.64 million shares of the Industrials Company. The new investment brought the stake of investor firm to 3.40% having worth around $2.84 million. Moreover, BlackRock Fund Advisors increased its share by 0.19 million to have a control over 0.26 million shares. And Susquehanna Financial Group LLLP raised its holdings to 0.21 million shares by acquiring 0.21 million shares or 0.78% of the stake.

Digital Ally Inc. (DGLY) concluded trading on 08/27/20 at a closing price of $2.57, with 16.92 million shares of worth about $43.48 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 23.56% during that period and on Thursday the price saw a gain of about 25.37%. Currently the company’s common shares owned by public are about 26.58M shares, out of which, 22.97M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 1 analyst is covering the DGLY stock and their offered price forecasts bring an average price target of $5.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $5.00 and could fall to a lowest price of $5.00. However, touching the estimated high of $5.00 would mean a gain of 48.6% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 538,870 shares in 6 of the transactions. In 4 selling transactions, insiders dumped 197,651 shares.

Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Digital Ally Inc. Vanguard Total Stock Market Index is currently holding 0.57 million shares of worth totaling $1.79 million. The company recently came buying 0.0 shares which brought its stake up to 2.14% of the company’s outstanding shares. Fidelity Extended Market Index Fu, after buying 43337.0 shares, have now control over 0.16% of the stake in the company. It holds 0.0 shares of worth $0.14 million.

Digital Ally Inc. (NASDAQ: DGLY) started trading at $2.09, above $0.04 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $2.57, or with a gain of 25.37%. Stock saw a price change of 23.56% in past 5 days and over the past one month there was a price change of -19.44%. Year-to-date (YTD), DGLY shares are showing a performance of 151.96% which increased to 87.59% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.64 but also hit the highest price of $7.10 during that period. While comparing its average daily trading volume of 9.54 million shares, we see that about 16.92 million changed hands on the day. The stock is currently trading -3.29% below its 20-day simple moving average (SMA20), while that difference is down -16.17% for SMA50 and it goes to 52.57% higher than SMA200.

The Vanguard Group, Inc. acquired 0.9 million shares of Digital Ally Inc. having value of about $2.84 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.64 million shares in the company valued at close to $1651312.38, or have control over 245.71% stake in the company. Digital Ally Inc. (NASDAQ: DGLY) currently have 26.58M outstanding shares and institutions hold larger chunk of about 7.90% of that. Holding of mutual funds in the company is about 3.70% while other institutional holders and individual stake holders have control over 4.16% and 10.95% of the stake respectively.

The stock has a current market capitalization of $68.00M and its 3Y-monthly beta is at 0.70. It has posted earnings per share of -$0.70 in the same period. It has Quick Ratio of 2.20 while making debt-to-equity ratio of 0.39. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DGLY, volatility over the week remained 11.28% while standing at 9.62% over the month.

Analysts are in expectations that Digital Ally Inc. (DGLY) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter ESPS is -$0.08 and it is -$0.32 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.1 which is -$0.1 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.51 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 54.70% while it is estimated to increase by 11.10% in next year. EPS is likely to shrink at an annualized rate of 20.00% for next 5-years, compared to annual growth of 24.40% made by the stock over the past 5-years.

Analysts at 1 brokerage firms have issued recommendations for the Digital Ally Inc. (DGLY)’s stock out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Aegis Capital on June 29, 2020 offering a Buy rating for the stock and assigned a target price of to it. Coverage by Maxim Group stated Digital Ally Inc. (DGLY) stock as a Buy in their note to investors on November 15, 2017, suggesting a price target of $4 for the stock. On August 18, 2016, Maxim Group Initiated their recommendations, while on November 13, 2015, ROTH Capital Downgrade their ratings for the stock with a price target of $7. Stock get a Buy rating from ROTH Capital on August 10, 2015.


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