Digital Ally shares higher in wake of South Carolina shooting

Reuters News
Posted: Apr 08, 2015 11:18 AM

NEW YORK (Reuters) - Shares of Digital Ally rose on Wednesday, with the stock on track for a day of heavier-than-average trading, after a white police officer was caught on video fatally shooting a 50-year-old black man in South Carolina.

The company makes wearable cameras that many view as a means of increasing law-enforcement accountability; it also received heavy interest last year in the aftermath of the fatal shooting by a police officer of an unarmed black teenager in Ferguson, Missouri.

The stock rose 3.9 percent to $13.09, though it previously advanced as much as 6.2 percent. Roughly 210,000 shares exchanged hands in morning trading, putting Digital Ally on track to surpass its 50-day average volume of about 387,000 shares.

In December, U.S. President Barack Obama pledged funds for the purchase of body-worn cameras; subsequently, Los Angeles Mayor Eric Garcetti announced a plan to equip 7,000 police officers with body cameras in 2015.

Image Sensing Systems, which makes video and radar image processing products, rose 1.2 percent on Wednesday, though trading was light. Taser International, whose products are viewed as a non-lethal tool for law enforcement, rose 1.2 percent to $24.82.

About 254.32 million shares of Digital Ally changed hands over 2014, compared with fewer than 9 million shares in 2013.

(Reporting by Ryan Vlastelica; Editing by Alan Crosby)