With the current price of $2.57, the stock of Digital Ally, Inc. (NASDAQ:DGLY) concluded the trading session seeing its price rise by 0.52 points or at a gain of 25.37% compared to its previous day’s closing price of $2.05. About 16.844 million shares of the stock changed hands on the day. The trading volume of DGLY’s shares during the past session compares with the stock’s average daily trading volume of 9.528 million shares. On the other hand, a float of 22.97 million shares and a weekly performance of 23.56% make the stock worth to keep an eye on. Analysts are in agreement on an annual target price of $0 for DGLY’s share which suggests that the stock, price of which is currently buoying between $2.08 and $2.69, is prone to a loss of -100%. But still, there are some analysts recommending a price below the agreed average price and one of them has given a target price of $5 to the stock.
The latest data released on August 14, 2020 shows that the short float in the Digital Ally, Inc.’s stock is trending downward as short interest in DGLY shares turned down leaving more number of shares available to public for trading. Number of shares shorted in the DGLY is currently comprised of 11.09% of the float as the volume of shorted shares declined by -116725 shares. Over the past two weeks, stock’s short interests improved as number of shorted shares reduced to 2.432 million shares from the previous figure of 2.548 million shares. Stock’s average intraday volume is now standing at 1.195 million shares which indicate that the days to cover the shorts are nearly 2.034932.
After concluding the day’s trading, price of Digital Ally, Inc. (NASDAQ:DGLY) is up $0.49 over the week and it is -$0.64 below20-day average price. The highest price touched by the stock on the day was lower than 52-week high price of $7.1 that was attained on 06/09/20.
The stock has traded as low as $0.64 in past 52-week, and its current price is 301.53% above from that 52-week low price mark recorded on 03/18/20, which is an indicator that could increase the investors’ motivation level in taking advantage of price surge the stock has currently been going through. Stock currently has its beta at 0.7. A beta value of more than 1 represents higher volatility of a stock than that of the market and for the reason investors closely watch the behavior of such stock.
Current indicators are pointing at 48.46 as 14-days RSI of Digital Ally, Inc. This means that the DGLY is currently in a neutral territory and its share’s price movement is likely to be steady for a while. Similarly, the stochastic oscillator is indicating a momentum of 21.62%, implying stock’s share price is buoying in an overbought state.
Technical chart is showing 1st resistance point of $2.81 for the DGLY’s share while placing it at a 2nd resistance point of $3.06 to be settled at. But if the stock takes a plunge lower than the 1st support price of $2.2 then its market would become weakened. And that would likely sliding the stock price down to 2nd support price level of $1.84.
MACD oscillator is showing a reading of 0.11 for the stock which means that it is currently in the green zone. Any movement above or below the zero level of the indicator has always being noticed by the investors as it makes them compare the stock’s average measure in short-term with that in the long-term. An MACD evaluation of more than zero means that stock has a stronger short-term average than long-term average, which implies that stock’s price is likely to climb up. But an MACD below zero indicates weaker short-term average compare to the long-term average.
Aegis Capital started covering the DGLY stock on June 29, recommending Buy rating for it. The stock gets a Buy recommendation from analysts at Maxim Group who changed the target price from $9 to $4 in their November 15 note to investors.Maxim Group analysts started covering the stock with recommendation of Buy rating on August 18, while suggesting a price target of $15 to it.
The average rating of 2 for DGLY is placing the stock in bullish category at the moment. In a poll by Reuters including 1 analysts in it who kept tracking the Digital Ally, Inc., 0 rated the stock as hold. Others were in different opinions for the DGLY. Out of remaining 1 analysts, 1 rated the stock as a buy or strong buy. 0 were in favor of a sell rating for the stock while advising investors to shun the stock if they already have any or otherwise not to buy it.