NEW YORK (TheStreet) --Shares of Digital Ally Inc. (DGLY) are climbing higher by 23.70% to $15.64 on heavy volume in mid-morning trading on Tuesday, as the stock continues to gain as interest in wearable cameras for police grows in the wake of the Ferguson, Mo. shooting.
So far this morning, 5.86 million shares of Digital Ally exchanged hands as compared to its average daily volume of 873,000 shares.
Following the Aug. 9 shooting of an unarmed Ferguson teenager by a police officer, the public has been demanding law enforcement officers be required to wear body cameras while on the job.
Digital Ally announced on Aug. 20 that is has received numerous inquiries from law enforcement agencies interested in the FirstVU HD Officer-Worn Video System it sells.
Separately, 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 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."