Data Storage Corp. (NASDAQ:DTST) Stock Short Interest Report for September

Data Storage Corp. (NASDAQ:DTST) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 44,847 shares, a growth of 1,177.3% from the September 15th total of 3,511 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 32,318 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On Data Storage

An institutional investor recently bought a new stake in Data Storage stock. Alpine Global Management LLC bought a new stake in Data Storage Corp. (NASDAQ:DTST) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned about 0.69% of Data Storage as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 11.56% of the company’s stock.

Data Storage Stock Performance

DTST stock traded down $0.01 during midday trading on Friday, reaching $3.27. 6,232 shares of the company were exchanged, compared to its average volume of 26,109. The company has a market cap of $7.66 million, a price-to-earnings ratio of -4.31 and a beta of 1.19. Data Storage has a 1-year low of $2.75 and a 1-year high of $5.15. The stock’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $3.49.

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

Analyst Ratings Changes

Separately, Weiss Ratings cut Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Data Storage presently has an average rating of “Sell”.

About Data Storage

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data management, storage, and information technology services. Its offerings are designed to help organizations protect, access, and manage business-critical data while supporting operational continuity.

The company’s services include cloud hosting, data backup and recovery, disaster recovery, cybersecurity, managed information technology, and related business continuity solutions. Data Storage also supports electronic communications and document-management needs through cloud-based services, serving organizations that require secure and reliable access to their applications and information.

Data Storage serves businesses and other organizations, primarily in the United States.