NEW YORK (TheStreet) -- Digital Ally (DGLY) was gaining 5.7% to $7.48 Wednesday after announcing that the number of inquiries into its FirstVU HD body camera increased dramatically following the events in Ferguson, Mo.
The company saw a dramatic increase in the number of law enforcement agencies inquiring about its FirstVU HD Officer-Worn Video System since the civil unrest in the city began.
"An audio/video recording often proves to be invaluable in court because it can answer critical questions regarding inappropriate actions by either the law enforcement officer or the person who may have broken the law," the company said in a press release. "Some state governments are considering legislation that would require all law enforcement vehicles and officers to be equipped with some sort of audio/video recording capabilities."
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TheStreet Ratings team rates DIGITAL ALLY INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIGITAL ALLY INC (DGLY) a SELL. This is driven by multiple weaknesses, 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."