Looking at stock performance over the past year, we note that Digital Ally, Inc. (NASDAQ:DGLY) has seen a rise. Over the last 52-weeks, the stock has moved 52.17% to the upside. Investors will be watching to see if positive momentum will continue as we move further into the current year.
Amateur investors can sometimes become overwhelmed by the speed and volatility of the stock market. Often times, avoiding big mistakes early on can be the difference between staying in the game or being prematurely forced to the sidelines. One of the biggest mistakes that a new investor can make is not creating a realistic plan. A well-crafted plan will generally include risk tolerance, time horizon, and amount and frequency of investments. Having a clear plan for attaining goals can help the investor stay focused when the terrain gets rocky. Another common mistake for investors is buying high and selling low. Of course, everybody preaches the buy low sell high mantra, but it is much easier said than done. Getting caught up in the day to day market swings can lead the investor to do just the opposite and become a hot stock chaser instead of a disciplined decision maker.
Following some sell-side analyst opinions on shares of Digital Ally, Inc., we can see that the current consensus price target is $5.00. Analysts often work hard to provide their best estimates of where they think a stock is headed. Analysts may use different methods to calculate price targets, and investors often track the consensus to get a general feel of how the Street sees the stock.
Digital Ally, Inc. (NASDAQ:DGLY) currently has a beta of 2.67. A beta of 1 indicates that the stock price moves along with the market. A beta below 1 indicates that the stock is less volatile than the market in theory. A beta value over one would indicate the opposite. Conducting standard fundamental stock analysis is typically straightforward. Nowadays, investors have quick access to large amounts of information. The biggest stumbling block for the average investor may be devoting the time to actually accomplish the task. One goal of following the fundamentals is to establish the true value of a particular stock compared to how it is currently trading. Many investors think that identifying quality stocks should be a cornerstone of a solid portfolio build.
Looking at stock market performance over the last few months, new investors may be worried that they might have missed out on some fantastic opportunities. With so much information and data available, they may not even know where to begin when getting into the stock investing arena. Everybody has to start somewhere, and becoming knowledgeable about the basics may help provide the perfect springboard from which to launch. Starting with the basics may help the investor understand the bigger picture which can then be filtered down into specifics. Because there is no magic formula to achieving success in the stock market, investors may have to explore many different strategies before choosing one to run with.
Watching alternate performance metrics, we can see that Digital Ally, Inc. (NASDAQ:DGLY) shares have seen a change of 1.74% over the past week. For the previous month, the stock has changed 9.71%. For the last quarter, the stock has performed 20.69%. If we look back year-to-date, the stock has moved 30.60%. With the stock market still cruising along, investors may be wondering how to trade the market into the next few quarters. If market momentum starts to shift hard one way or the other, investors may need to adjust to accommodate the landscape. Being prepared for any market situation can help the investor deal with the turbulence when it arrives.
Investors may be diving into the latest company earnings reports trying to scope out some quality stocks to add to the portfolio. Nobody knows for sure which way overall market momentum will sway as we near the close of the calendar year. Investors may be getting ready to do a portfolio review to see which stocks are worthy to hold, and which ones have underperformed a may need to be unloaded. Regularly monitoring stock investments may keep the investor ready for any big market changes that may occur.