The Vanguard Group, Inc. 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 245.71% to 0.9 million shares with purchase of 0.64 million shares. This fresh investment now brings its stake to 3.40% valued currently at $2.84 million. In addition, BlackRock Fund Advisors raised its holdings by 0.19 million to 0.26 million shares.
With over 1.39 million Digital Ally Inc. (DGLY) shares trading Monday and a closing price of $2.25 on the day, the dollar volume was approximately $3.14 million. The shares have shown a positive weekly performance of 7.14% and its price on 08/31/20 lost nearly -3.02%. Currently, there are 26.58M common shares owned by the public and among those 22.97M 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. But an upside of 55.0% 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. 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 $2.381, up $0.06 from a prior closing price of $2.32. However, the script later closed the day at $2.25, down -3.02%. The company’s stock has a 5-day price change of 7.14% and 36.36% over the past three months. DGLY shares are trading 120.59% year to date (YTD), with the 12-month market performance up to 85.95% higher. It has a 12-month low price of $0.64 and touched a high of $7.10 over the same period. Currently, 1.39 million shares have been traded, compared to an average intraday trading volume of 9.83 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 -12.94%, -24.94%, and 32.60% respectively.
Institutional ownership of Digital Ally Inc. (NASDAQ: DGLY) shares accounts for 7.90% of the company’s 26.58M shares outstanding. Mutual fund holders own 3.70%, while other institutional holders and individual stakeholders account for 4.16% and 10.95% respectively.
It has a market capitalization of $66.24M and a beta (3y monthly) value of 0.66. The earnings-per-share (ttm) stands at -$0.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.52% over the week and 10.11% over the month.
Analysts forecast that Digital Ally Inc. (DGLY) will achieve an EPS of -$0.1 for the current quarter, -$0.08 for the next quarter and -$0.32 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.51 a year ago. Earnings per share for the fiscal year are expected to increase by 54.70%, and 11.10% over the next financial year. 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.