Charles Piluso Sells 41,793 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 41,793 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $3.82, for a total value of $159,649.26. Following the sale, the chief executive officer owned 255,684 shares of the company’s stock, valued at $976,712.88. This represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Trading Up 1.9%

NASDAQ:DTST traded up $0.07 on Tuesday, hitting $3.84. 69,139 shares of the stock were exchanged, compared to its average volume of 44,198. The stock has a market cap of $8.33 million, a PE ratio of -11.64 and a beta of 1.15. The stock has a fifty day moving average of $4.00 and a 200-day moving average of $4.32. Data Storage Corp. has a fifty-two week low of $3.25 and a fifty-two week high of $5.44.

Data Storage (NASDAQ:DTST) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.09. The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.40 million. Data Storage had a negative return on equity of 3.76% and a net margin of 81.52%.

Institutional Investors Weigh In On Data Storage

Several institutional investors and hedge funds have recently modified their holdings of DTST. Alpine Global Management LLC purchased a new stake in shares of Data Storage in the fourth quarter worth about $256,000. Renaissance Technologies LLC boosted its position in shares of Data Storage by 54.8% in the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after buying an additional 48,200 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Data Storage in the third quarter worth about $186,000. Rothschild Wealth LLC purchased a new stake in shares of Data Storage in the fourth quarter worth about $205,000. Finally, Yakira Capital Management Inc. purchased a new stake in shares of Data Storage in the fourth quarter worth about $175,000. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Data Storage from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Data Storage currently has a consensus rating of “Reduce”.

Data Storage Company Profile

Data Storage Corporation provides data management and cloud solutions in the United States and internationally. It offers a suite of multi-cloud IT solutions, including cyber security solutions, which comprise ezSecurity, a security solution for endpoint security, system assessments, and risk analysis, as well as IBM system protection, including Ransomware defense. The company also provides data protection and recovery solutions, such as ezVault for offsite data protection; ezRecovery for fast data recovery; ezAvailability for real-time data replication with minimal recovery objectives; and ezMirror for data mirroring at the storage level.