Data Storage Corp. (NASDAQ:DTST) Sees Large Decline in Short Interest

Data Storage Corp. (NASDAQ:DTST) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 3,511 shares, a decrease of 63.9% from the August 31st total of 9,731 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 7,904 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

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

Data Storage Stock Performance

Shares of NASDAQ DTST traded up $0.15 during trading hours on Monday, hitting $3.29. The stock had a trading volume of 14,236 shares, compared to its average volume of 26,643. The firm’s 50-day moving average price is $3.09 and its two-hundred day moving average price is $3.53. Data Storage has a 52 week low of $2.75 and a 52 week high of $5.15. The company has a market capitalization of $7.69 million, a P/E ratio of -4.32 and a beta of 1.15.

Data Storage (NASDAQ:DTST) last posted its earnings results on Friday, August 14th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 business had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.40 million.

Institutional Investors Weigh In On Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Alpine Global Management LLC bought a new stake in Data Storage Corp. (NASDAQ:DTST) during the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent quarter. 11.56% of the stock is owned by hedge funds and other institutional investors.

Data Storage Company Profile

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data protection, storage and business-continuity services. Its offerings are designed to help organizations back up, preserve and recover business-critical information while supporting ongoing operations in the event of system failures, cyber incidents or other disruptions.

The company’s services include cloud backup and disaster recovery, data archiving, secure cloud storage, managed information-technology services and related cybersecurity solutions.