Digital Ally Inc. [NASDAQ: DGLY] stock went on an upward path that rose over 8.27% on Tuesday, amounting to a one-week price decrease of less than -7.72%. The company report on January 12, 2021 that Digital Ally, Inc. Announces Pricing of $30.95 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules.
Digital Ally, Inc., (NASDAQ: DGLY) (the “Company”), which develops, manufactures and markets advanced video recording products and other critical safety products for law enforcement, emergency management, fleet safety and security, announced that it has entered into a securities purchase agreement with institutional investors for the issuance and sale of 10,000,000 its shares of common stock (pursuant to the direct sale of shares of the Company’s common stock and pre-funded warrants issuable to investors who would beneficially own more than 9.99% of the Company’s outstanding shares of common stock) and warrants to purchase up to 10,000,000 of its shares of common stock at a price of $3.095 per share and accompanying warrant for aggregate gross proceeds of $30,950,000, in a registered direct offering priced at-the-market under Nasdaq rules. The warrants will have an exercise price of $3.25 per share, are exercisable immediately and will expire five years following the date of issuance.
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Kingswood Capital Markets, division of Benchmark Investments, Inc., is acting as exclusive placement agent for the offering.
Over the last 12 months, DGLY stock rose by 182.63%.
The market cap for the stock reached $80.85 million, with 26.61 million shares outstanding and 26.00 million shares in the current float. Compared to the average trading volume of 7.11M shares, DGLY stock reached a trading volume of 20909823 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Digital Ally Inc. [DGLY]:
Aegis Capital have made an estimate for Digital Ally Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 29, 2020. While these analysts kept the previous recommendation, Maxim Group dropped their target price from $9 to $4. The new note on the price target was released on November 15, 2017, representing the official price target for Digital Ally Inc. stock. Previously, the target price had yet another raise to $15, while Maxim Group analysts kept a Buy rating on DGLY stock. On November 13, 2015, analysts decreased their price target for DGLY shares from 16 to 7.
The Average True Range (ATR) for Digital Ally Inc. is set at 0.30, with the Price to Sales ratio for DGLY stock in the period of the last 12 months amounting to 7.93. The Price to Book ratio for the last quarter was 5.09, with the Price to Cash per share for the same quarter was set at 0.28.
DGLY Stock Performance Analysis:
Digital Ally Inc. [DGLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.72. With this latest performance, DGLY shares gained by 6.18% in over the last four-week period, additionally sinking by -16.41% over the last 6 months – not to mention a rise of 182.63% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DGLY stock in for the last two-week period is set at 50.69, with the RSI for the last a single of trading hit 50.04, and the three-weeks RSI is set at 51.21 for Digital Ally Inc. [DGLY]. The present Moving Average for the last 50 days of trading for this stock 2.61, while it was recorded at 2.64 for the last single week of trading, and 2.40 for the last 200 days.
Insight into Digital Ally Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Digital Ally Inc. [DGLY] shares currently have an operating margin of -115.24 and a Gross Margin at +30.96. Digital Ally Inc.’s Net Margin is presently recorded at -95.83.
Return on Total Capital for DGLY is now -242.02, given the latest momentum, and Return on Invested Capital for the company is -251.50. Additionally, DGLY Total Debt to Total Capital is recorded at 385.34, with Total Debt to Total Assets ending up at 95.68.
Reflecting on the efficiency of the workforce at the company, Digital Ally Inc. [DGLY] managed to generate an average of -$84,082 per employee. Receivables Turnover for the company is 5.35 with a Total Asset Turnover recorded at a value of 0.90.Digital Ally Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 4.50.
DGLY Stock EPS
With the latest financial reports released by the company, Digital Ally Inc. posted -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 44.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DGLY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Digital Ally Inc. go to 20.00%.
Digital Ally Inc. [DGLY] Insider Position Details
There are presently around $9 million, or 11.20% of DGLY stock, in the hands of institutional investors. The top three institutional holders of DGLY stocks are: VANGUARD GROUP INC with ownership of 916,098, which is approximately 0% of the company’s market cap and around 8.20% of the total institutional ownership; MORGAN STANLEY, holding 508,969 shares of the stock with an approximate value of $1.29 million in DGLY stocks shares; and GROUP ONE TRADING, L.P., currently with $0.99 million in DGLY stock with ownership of nearly New of the company’s market capitalization.
Positions in Digital Ally Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 19 institutional holders increased their position in Digital Ally Inc. [NASDAQ:DGLY] by around 1,506,075 shares. Additionally, 12 investors decreased positions by around 227,468 shares, while 8 investors held positions by with 1,629,438 shares. The mentioned changes placed institutional holdings at 3,362,981 shares, according to the latest SEC report filing. DGLY stock had 8 new institutional investments in for a total of 667,285 shares, while 8 institutional investors sold positions of 223,929 shares during the same period.