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Is Digital Ally Inc. (NASDAQ: DGLY) Stock Good For Medium-Term Investing?

Digital Ally Inc. (NASDAQ:DGLY) traded at $0.54 at close of the session on Wednesday, September 21, made a downward move of -10.41% on its previous day’s price.

Looking at the stock we see that its previous close was $0.60 and the beta (5Y monthly) reads 0.63 with the day’s price range being $0.5606 – $0.6225. The company has a trailing 12-month PE ratio of 24.89. In terms of its 52-week price range, DGLY has a high of $1.60 and a low of $0.51. The company’s stock has lost about -22.44% over that past 30 days.

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Digital Ally Inc. has a market cap of $24.76 million and is expected to release its quarterly earnings report on Nov 15, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.12, with the EPS growth for the year raised at -$0.47 for 2022 and -$0.2 for next year. These figures represent -192.20% and 57.40% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $11 million, with a low of $11 million and a high of $11 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $45 million, or 110.20% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the DGLY stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the Digital Ally Inc. (DGLY) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the DGLY stock currently stands at 1.24, and the current price level is -8.92% off its SMA20 and -24.04% from its 50-day simple moving average. The RSI (14) is pointing at 36.29 while the volatility over the past week is 10.86% and jumps to 6.77% over the past one month. The beta value is 0.64, while the average true range (ATR) is currently pointing at 0.05. The average price target for the stock over the next 12 months is $2.50, with the estimates having a low of $2.50 and a high of $2.50. These price ends are -362.96% and -362.96% off the current price level respectively, although investors could be excited at the prospect of a -362.96% if the DGLY share price touches on the median price of $2.50.

Let’s briefly compare Digital Ally Inc. (DGLY) stock to its peers. We find that current price change of -10.41% and -52.59% over the past 12 months for DGLY competes that of Sturm Ruger & Company Inc. (RGR), which has seen its stock price rise 1.26% in the last trading session and was -31.16% over the last one year. Another of its peers National Presto Industries Inc. (NPK) has gained 2.24% previous session, and was -14.02% down over the past year, while Axon Enterprise Inc. (AXON) was also up 1.87% in the last session, while its price remained in the red at -32.29% over the same period. Digital Ally Inc. has a P/E ratio of 24.89 compared to Sturm Ruger & Company Inc.’s 7.27 and National Presto Industries Inc.’s 27.92. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 0.57% and 0.58%, respectively, at close of the trading.

Coming back to Digital Ally Inc. (NASDAQ:DGLY), we note that the average 3-month trading volume was 427.49K, while that of the preceding 10-day period stands at 0.76 million. Current shares outstanding are 48.66 million.

The insiders hold 7.47% of the company’s shares while institutions hold 9.00%. The data shows that short shares as of Aug 30, 2022, stood at 3.35 million at a short ratio of 11.39. This represents a 7.00% short interest in shares outstanding on Aug 30, 2022. Shares short fall in August from the previous month at 5.42 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -44.17% down in year-to-date price movement.

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