Why Digital Ally (DGLY) Stock Hit a One-Year High Today

Update (5 p.m.): Updated with Stanton Ross comments and regulatory filing information.

NEW YORK (TheStreet) -- Shares of Digital Ally DGLY hit a 52-week high of $32.49 on Tuesday after the company said inquiries for its wearable cameras have increased five-fold since the shooting in Ferguson, MO.

Late last week, Digital Ally CEO Stanton Ross told USA Today last Thursday that the company had increased its full-year revenue guidance to $22.5 million, which equates to a 26.4% increase from $17.8 million in 2013. The company reaffirmed this forecast in an 8K regulatory filing on Friday but cautioned "there can be no assurance that the company will achieve the results forecast because, among other factors, they are based largely on its expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond its control.

The company also said on Thursday that it had received its first camera order since the fatal shooting of an unarmed black teenager in Ferguson. The Michigan police department placed the order.

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The stock soared 51.02% to $28.18 at 11:30 a.m. More than 10.5 million shares had changed hands, compared to the average volume of 1,997,550.

DGLY Chart DGLY data by YCharts

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