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Digital Ally Inc. (DGLY) stock plunged in the after-hours trading session; here’s why

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In the after-hours trading session, Digital Ally Inc. (DGLY) stock plunged by -14.95% to the price of $1.65 at the time of writing. DGLY previously closed Tuesday’s session with a gain of 7.78% to the price of $1.94. The DGLY stock volume traded was 19.81 million shares The average volume of trade for the past 3 months has been 6.4 million. In the past year DGLY stock has surged by 112.65%. In the past week, the shares also went up by 9.60%. For the past three and six months, the DGLY stock has lost -34.90%, and -13.00% respectively. Digital Ally (DGLY) is currently valued in the market at $101.79 million and consists of outstanding shares that total 51.52 million.

Digital Ally provides surveillance products for security purposes

Digital Ally Inc. Is an electronics products and services company that specifically focuses on creating and marketing video imaging that is digitalized and storage products for security purposes. The customers of Digital Ally include law enforcement, security firms, and private/individual users.

The product offerings of the company include the use of digital and audio recording as well as storage for the recording. These recording devices can come in the form of a digital camera and mic which can be attached with the back view mirror for commercial and law enforcement purposes. It also includes surveillance recording devices which are body-worn cameras automatically activated, in-car footage and video, and multiple surveillance points. These type of devices are commercially available by names such as VuLink.

The DGLY has a set of software like data management programs and cloud storage which allow management of the videos and telematics informations for the user (known as Digital Ally), for the monitoring and tracking of recordings they use FleetVu Manager and a digital cloud storage platform known as VuVault.net.

Digital Ally receives multiple order of contracts for its products

On 5th April 2021, Digital Ally announced that it has come into agreement with multiple contracts for a certain set of its products. These products include the in-car system that has built-in auto-activation technology and body-worn cameras along with a cloud for storage – all of this comes together in the EVO-HD suite system of the company.

Police departments represent as one of the main clients of DGLY

One of these orders includes the largest international deployment and installation of the EVO-HD system which is booked by the Royal Barbados Police Force. The RBPF will deploy the EVO-HD in-car systems in their fleet of police vehicles. The DGLY stock has previously received an international agency order in early 2020 that has been delayed ever since the pandemic took place, the Royal Barbados Police Force does not represent this order or agency.

The rest of the orders contain a list of: EVO-HD car systems, FirstVu HD body-cams, Evo Web Portal and cloud storage ordered by Crestwood police department, Danville police department and other unnamed police department.

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