Maxim Group Initiates Coverage on Digital Ally to Buy

Maxim Group Initiates Coverage on Digital Ally(NASDAQ:DGLY). The shares have been rated Buy. The rating by Maxim Group was issued on Aug 18, 2016.

Digital Ally (DGLY) made into the market gainers list on Mondays trading session with the shares advancing 1.15% or 0.07 points. Due to strong positive momentum, the stock ended at $6.16, which is also near the day’s high of $6.3042. The stock began the session at $6.1 and the volume stood at 45,985 shares. The 52-week high of the shares is $9 and the 52 week low is $3.51. The company has a current market capitalization of $33 M and it has 53,78,481 shares in outstanding.

Digital Ally(DGLY) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.38M. Analysts had an estimated revenue of $5.75M. Earnings per share were $-0.54. Analysts had estimated an EPS of $-0.20.

Several Insider Transactions has been reported to the SEC. On Jun 2, 2015, Stanton E Ross (Chairman, CEO & President) sold 24,228 shares at $14.58 per share price.Also, On Jun 2, 2015, Thomas J Heckman (CFO, Secretary & Treasurer) sold 20,592 shares at $15.34 per share price.On May 21, 2015, Leroy C Richie (director) sold 10,668 shares at $14.89 per share price, according to the Form-4 filing with the securities and exchange commission.

Digital Ally Inc. produces digital video imaging and storage products for use in law enforcement security and commercial applications. The Company’s products include an in-car digital video/audio recorder contained in a rear-view mirror for use in law enforcement and commercial fleets; a weather-resistant mobile digital video recording system for use on motorcycles and boats; a miniature digital video system designed to be worn on an individual’s body; a system that provides its audio/video surveillance from multiple vantage points; a digital video/audio recorder contained in a flashlight sold to law enforcement agencies and other security organizations and a hand-held laser speed detection device that it is offering primarily to law enforcement agencies. The Company sells its products to law enforcement agencies and other security organizations consumer and commercial fleet operators through direct sales domestically and third-party distributors internationally.

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