Thomas Kempster Sells 3,500 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) Director Thomas Kempster sold 3,500 shares of the company’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $2.92, for a total value of $10,220.00. Following the sale, the director directly owned 18,500 shares of the company’s stock, valued at approximately $54,020. This represents a 15.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Stock Down 2.0%

NASDAQ:DTST opened at $2.87 on Wednesday. Data Storage Corp. has a 1-year low of $2.85 and a 1-year high of $5.15. The firm has a market capitalization of $6.72 million, a price-to-earnings ratio of -3.78 and a beta of 1.15. The stock has a fifty day simple moving average of $3.17 and a 200 day simple moving average of $3.59.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.24). Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.The company had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.40 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Data Storage stock. Alpine Global Management LLC acquired a new position in shares of Data Storage Corp. (NASDAQ:DTST) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned 0.69% of Data Storage at the end of the most recent quarter. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

About Data Storage

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.