Clifford Stein Sells 3,991 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) Director Clifford Stein sold 3,991 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $3.05, for a total value of $12,172.55. Following the sale, the director directly owned 18,009 shares in the company, valued at approximately $54,927.45. The trade was a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Trading Up 1.7%

Data Storage stock opened at $3.04 on Friday. The stock has a 50-day moving average price of $3.19 and a 200 day moving average price of $3.61. Data Storage Corp. has a 52 week low of $2.85 and a 52 week high of $5.15. The stock has a market cap of $7.11 million, a PE ratio of -4.00 and a beta of 1.15.

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

Hedge Funds Weigh In On Data Storage

Institutional investors have recently added to or reduced their stakes in the business. Zacks Investment Management acquired a new stake in Data Storage in the 4th quarter worth about $83,000. XTX Topco Ltd acquired a new position in shares of Data Storage during the 4th quarter valued at about $134,000. Dimensional Fund Advisors LP lifted its holdings in shares of Data Storage by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after acquiring an additional 4,920 shares during the period. Yakira Capital Management Inc. purchased a new position in shares of Data Storage during the 4th quarter worth about $175,000. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Data Storage in the third quarter worth approximately $186,000. 11.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, September 3rd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average 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.