Digital Ally, Inc. (NASDAQ:DGLY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Digital Ally was created to supply technology based products to the law enforcement and security industry. While their main concentration is in the development and application of new concepts, they also recognize the value of retrofitting existing installations with cost-effective digital sub-systems. This flexibility allows to compete in established markets as they simultaneously promote the industry’s transition towards advanced technologies. “

A number of other analysts have also recently commented on the company. Westpark Capital set a $8.00 price target on Digital Ally and gave the company a “buy” rating in a research note on Friday, October 20th. Maxim Group reiterated a “buy” rating and issued a $9.00 price objective on shares of Digital Ally in a research report on Friday, October 20th. Finally, ValuEngine lowered Digital Ally from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

Shares of Digital Ally (NASDAQ DGLY) remained flat at $$2.65 during trading hours on Monday. The stock had a trading volume of 69,576 shares, compared to its average volume of 123,601. Digital Ally has a 1 year low of $1.70 and a 1 year high of $6.00.

A hedge fund recently raised its stake in Digital Ally stock. Honkamp Krueger Financial Services Inc. grew its position in shares of Digital Ally, Inc. (NASDAQ:DGLY) by 25.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,936 shares of the scientific and technical instruments company’s stock after buying an additional 5,000 shares during the period. Honkamp Krueger Financial Services Inc. owned approximately 0.44% of Digital Ally worth $107,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.25% of the company’s stock.

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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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