Digital Ally, Inc. (NASDAQ:DGLY) has been given a $9.00 target price by investment analysts at Maxim Group in a report released on Tuesday. The brokerage presently has a “buy” rating on the scientific and technical instruments company’s stock. Maxim Group’s target price would suggest a potential upside of 195.08% from the company’s current price.

DGLY has been the topic of several other reports. Westpark Capital reissued an “outperform” rating and set a $11.00 target price (up from $9.00) on shares of Digital Ally in a research note on Monday, July 10th. ValuEngine raised shares of Digital Ally from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 17th. Finally, Zacks Investment Research raised shares of Digital Ally from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th.

Digital Ally (NASDAQ:DGLY) traded down 1.64% during midday trading on Tuesday, reaching $3.00. The company’s stock had a trading volume of 101,495 shares. Digital Ally has a one year low of $2.70 and a one year high of $6.99. The stock’s 50 day moving average price is $3.47 and its 200-day moving average price is $4.03. The stock’s market cap is $17.04 million.

Digital Ally (NASDAQ:DGLY) last posted its earnings results on Monday, August 14th. The scientific and technical instruments company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.17. Digital Ally had a negative return on equity of 115.56% and a negative net margin of 71.44%. The firm had revenue of $3.50 million for the quarter, compared to analysts’ expectations of $4.95 million. During the same period in the previous year, the company earned ($0.54) earnings per share. The company’s revenue was down 20.5% compared to the same quarter last year. On average, analysts forecast that Digital Ally will post ($0.79) EPS for the current fiscal year.

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A hedge fund recently raised its stake in Digital Ally stock. Wells Fargo & Company MN increased its stake in Digital Ally, Inc. (NASDAQ:DGLY) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,617 shares of the scientific and technical instruments company’s stock after buying an additional 1,283 shares during the period. Wells Fargo & Company MN owned approximately 0.64% of Digital Ally worth $157,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 6.57% of the company’s stock.

About Digital Ally

Digital Ally, Inc produces digital video imaging and storage products for use in law enforcement, security and commercial applications. The Company’s products include in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a system that provides its law enforcement customers with audio/video surveillance from multiple vantage points and hands-free automatic activation of body-worn cameras and in-car video systems; a weather-resistant mobile digital video recording system for use on motorcycles, all-terrain vehicles (ATVs) and boats; a miniature digital video system designed to be worn on an individual’s body, and a hand-held laser speed detection device that it offers primarily to law enforcement agencies.

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