Digital Ally, Inc. (NASDAQ:DGLY)
Digital Ally, Inc. (NASDAQ:DGLY) stock gapped up to open the trading day on news that The Safariland Group announced a newly formed partnership with Digital Ally® for an exclusive distribution agreement of Digital Ally’s VuLink® car based auto-activation system. Twenty minutes into trading, DGLY shares have traded 2.4 million shares versus the listed daily average of just 47,300 – or 500 times the average!
Stan Ross, CEO of Digital Ally, Inc. (NASDAQ:DGLY) “We are pleased that others are recognizing the importance and value of our products and intellectual properties, especially our patented VuLink auto-activation technology. We are excited to partner with VIEVU to give them the products and technology they need to bring this capability to VIEVU’s customers.”
The Digital Ally VuLink system wirelessly sends a signal to automatically activate the user’s body-worn camera based on various actions with the vehicle, such as a siren being activated, lights being turned on, or a door opening. The VuLink system, when connected to the VIEVU body-worn camera can improve consistency in camera activation by automatically turning on the officer’s camera based on agency-selected vehicle triggers. The automatic activation will significantly reduce situations where body-worn camera footage is not available because an the user forgot to activate the camera.
DGLY Stock Action
Digital Ally, Inc. (NASDAQ:DGLY) stock trade near $6 in February before beginning a long, consistent slide that saw the shares touch their 52-week low of $2.15. Yesterday DLGY shares closed at $2.20 then opened today at $3.05 on the news detailed above. The inter-day high, so far, of $3.50 was hit in the first ten minutes and then the sellers stepped in.
Prior to today’s price action, DGLY shares have been underperforming for investors. They have been down over 47% year-to-date and lost 20% in the past month alone. Despite the poor performance over 2017, two analysts have a “Strong Buy” on DGLY stock with a consensus price target of $8.50.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.