Digital Ally Inc. [NASDAQ: DGLY] loss -2.96% or -0.05 points to close at $1.64 with a heavy trading volume of 1539121 shares. The company report on July 7, 2021 that Digital Ally’s New Healthcare Business Unit Announces Its First Acquisition.
Acquisition expected to generate approximately $1.0 million in annual revenues.
Digital Ally, Inc. (NASDAQ: DGLY) announces that its new healthcare business unit, Digital Ally Healthcare (“Digital Healthcare”), has acquired a medical billing company located in the Mid-West with annual revenues of approximately $1.0 million. This closely-held company has a long track record and provides revenue cycle management services (RCM) for over 40 physician clients in diverse specialties, including orthopedics, pediatrics, internal medicine and cardiology. Digital Healthcare made the acquisition through its joint venture with Nobility, LLC, an eight-year old RCM company servicing the medical industry.
It opened the trading session at $1.68, the shares rose to $1.70 and dropped to $1.63, the range by which the price of stock traded the whole day. The daily chart for DGLY points out that the company has recorded -46.58% loss over the past six months. However, it is still -8.61% lower than its most recent low trading price.
If we look at the average trading volume of 3.68M shares, DGLY reached to a volume of 1539121 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about 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 0.10, with the Price to Sales ratio for DGLY stock in the period of the last 12 months amounting to 7.60. The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 1.38.
Trading performance analysis for DGLY stock
Digital Ally Inc. [DGLY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.75. With this latest performance, DGLY shares dropped by -15.90% in over the last four-week period, additionally sinking by -46.58% over the last 6 months – not to mention a drop of -39.71% 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 39.15, with the RSI for the last a single of trading hit 34.30, and the three-weeks RSI is set at 42.28 for Digital Ally Inc. [DGLY]. The present Moving Average for the last 50 days of trading for this stock 1.7732, while it was recorded at 1.6860 for the last single week of trading, and 2.1644 for the last 200 days.
Digital Ally Inc. [DGLY]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Digital Ally Inc. [DGLY] shares currently have an operating margin of -72.88 and a Gross Margin at +38.64. Digital Ally Inc.’s Net Margin is presently recorded at -24.97.
Return on Total Capital for DGLY is now -87.25, given the latest momentum, and Return on Invested Capital for the company is -33.98. Return on Equity for this stock declined to -65.33, with Return on Assets sitting at -17.67. When it comes to the capital structure of this company, Digital Ally Inc. [DGLY] has a Total Debt to Total Equity ratio set at 6.94. Additionally, DGLY Total Debt to Total Capital is recorded at 6.49, with Total Debt to Total Assets ending up at 4.79. Long-Term Debt to Equity for the company is recorded at 6.07, with the Long-Term Debt to Total Capital now at 5.68.
Reflecting on the efficiency of the workforce at the company, Digital Ally Inc. [DGLY] managed to generate an average of -$30,533 per employee. Receivables Turnover for the company is 4.32 with a Total Asset Turnover recorded at a value of 0.71.Digital Ally Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.70.
Digital Ally Inc. [DGLY]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Digital Ally Inc. [DGLY]
There are presently around $6 million, or 7.10% of DGLY stock, in the hands of institutional investors. The top three institutional holders of DGLY stocks are: VANGUARD GROUP INC with ownership of 1,265,968, which is approximately 11.361% of the company’s market cap and around 5.58% of the total institutional ownership; BLACKROCK INC., holding 729,113 shares of the stock with an approximate value of $1.2 million in DGLY stocks shares; and SABBY MANAGEMENT, LLC, currently with $1.14 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 August and at the time of the August reporting period, where 25 institutional holders increased their position in Digital Ally Inc. [NASDAQ:DGLY] by around 1,784,441 shares. Additionally, 15 investors decreased positions by around 787,217 shares, while 4 investors held positions by with 1,055,132 shares. The mentioned changes placed institutional holdings at 3,626,790 shares, according to the latest SEC report filing. DGLY stock had 15 new institutional investments in for a total of 994,669 shares, while 8 institutional investors sold positions of 87,987 shares during the same period.