Why Digital Ally (DGLY) Stock Is Surging Today

NEW YORK (TheStreet) -- Digital Ally (DGLY) was surging 156.6% to $8.16 Thursday after receiving a patent for its VuLink connectivity system.

The company announced it is now shipping the new product to law enforcement customers. VuLink helps Digital Ally's Digital In-Car Vide Systems work with the FirstVU Body Camera. The system gives law enforcement a method of recording audio and video in the field inside and outside of the officer's vehicle.

"The new patent is directed to a controller that wirelessly synchronizes multiple recording devices, such as video cameras and microphones," Digital Ally CEO Stanton Ross said in a press release. "When an operator starts one recording device, the controller instructs the other recording devices to also record, and synchronizes the recordings on the various devices. This provides audio/video surveillance from multiple vantage points in order to more fully capture an event, and it allows the operator to quickly and easily reassemble the various recording devices."

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"We rate DIGITAL ALLY INC (DGLY) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."

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