Digital Ally Inc (NASDAQ: DGLY) has experienced a decline in its stock price by -15.69 compared to its previous closing price of 0.68. However, the company has seen a fall of -29.01% in its stock price over the last five trading days. globenewswire.com reported 2024-10-18 that MIAMI, FL and KANSAS CITY, KS, Oct. 18, 2024 (GLOBE NEWSWIRE) — Clover Leaf Capital Corp. (OTC: CLOE) (“CLOE” or “Clover Leaf”), a publicly traded special purpose acquisition company, and Digital Ally, Inc. (Nasdaq: DGLY) (“Digital Ally”) today announced that on October 18, 2024, Clover Leaf convened and then adjourned, without conducting other business, its special meeting of its stockholders in lieu of its 2024 Annual Meeting of Stockholders (the “Meeting” ) to 10:00 a.m., Eastern Time on Friday, November 8, 2024. At the meeting, stockholders of Clover Leaf will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Kustom Entertainment, Inc., a Nevada corporation (“Kustom Entertainment” or the “Company”), pursuant to an Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Clover Leaf, CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of Clover Leaf (“Merger Sub”), Yntegra Capital Investments LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative (as defined in the Merger Agreement) and Digital Ally, Inc., a Nevada corporation and the sole stockholder of the Company (“Digital Ally”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Meeting.
Is It Worth Investing in Digital Ally Inc (NASDAQ: DGLY) Right Now?
The stock has a 36-month beta value of 0.82. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for DGLY is 3.57M, and at present, short sellers hold a 10.57% of that float. On November 18, 2024, the average trading volume of DGLY was 153.72K shares.
DGLY’s Market Performance
The stock of Digital Ally Inc (DGLY) has seen a -29.01% decrease in the past week, with a -41.08% drop in the past month, and a -47.25% fall in the past quarter. The volatility ratio for the week is 12.81%, and the volatility levels for the past 30 days are at 9.71% for DGLY. The simple moving average for the past 20 days is -37.54% for DGLY’s stock, with a -69.74% simple moving average for the past 200 days.
Analysts’ Opinion of DGLY
Maxim Group, on the other hand, stated in their research note that they expect to see DGLY reach a price target of $4, previously predicting the price at $9. The rating they have provided for DGLY stocks is “Buy” according to the report published on November 15th, 2017.
Maxim Group gave a rating of “Buy” to DGLY, setting the target price at $15 in the report published on August 18th of the previous year.
DGLY Trading at -42.88% from the 50-Day Moving Average
After a stumble in the market that brought DGLY to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -82.52% of loss for the given period.
Volatility was left at 9.71%, however, over the last 30 days, the volatility rate increased by 12.81%, as shares sank -44.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -48.21% lower at present.
During the last 5 trading sessions, DGLY fell by -29.01%, which changed the moving average for the period of 200-days by -71.50% in comparison to the 20-day moving average, which settled at $0.9205. In addition, Digital Ally Inc saw -72.88% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for DGLY
Current profitability levels for the company are sitting at:
- -0.8 for the present operating margin
- 0.12 for the gross margin
The net margin for Digital Ally Inc stands at -0.86. The total capital return value is set at -1.19. Equity return is now at value -167.51, with -41.73 for asset returns.
Based on Digital Ally Inc (DGLY), the company’s capital structure generated 0.82 points at debt to capital in total, while cash flow to debt ratio is standing at -0.94. The debt to equity ratio resting at 4.66. The interest coverage ratio of the stock is -5.58.
Currently, EBITDA for the company is -20.11 million with net debt to EBITDA at -0.75. When we switch over and look at the enterprise to sales, we see a ratio of 0.59. The receivables turnover for the company is 4.79for trailing twelve months and the total asset turnover is 0.54. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.51.
Conclusion
To sum up, Digital Ally Inc (DGLY) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
