Digital Ally, Inc. Shares In Play Following Military Contract Announcement

Shares of Digital Ally, Inc. DGLY were up 30 percent Friday morning following the company’s announcement of a $200,000 order of its complete video evidence-gathering system from a U.S military base.

Digital Ally shares have been volatile in the recent months.

On August 13, the company reported second quarter earnings of $(0.28) with revenues of $3.4 million; this figure represented a 32 percent decline year over year. Following the announcement, shares dropped 14 percent to $3.47.

Despite the earnings miss, shares of Digital Ally ascended roughly 100 percent to $7.05 on August 20 when the company announced that "the number of inquiries that it has received from law enforcement agencies interested in its FirstVU HD Officer-Worn Video System has increased dramatically since the national media began covering the civil unrest in Ferguson, Missouri."

Following the announcement, shares continued to surge to a high of $33.59 in just nine trading sessions, as CEO Stanton Ross said he had been receiving takeover offers for the firm.

Following the $33.59 high, shares dropped over 100 percent to $15 in two weeks to where the shares closed Thursday’s session.

On Friday, shares rebounded off the $15 low to $20.20, representing nearly a 30 percent gain.

Shares of Digital Ally traded recently at $18.37, up 22 percent.