Data Storage Corp. (NASDAQ:DTST) Short Interest Update

Data Storage Corp. (NASDAQ:DTST) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 16,075 shares, a decrease of 42.7% from the July 15th total of 28,063 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 11,537 shares, the days-to-cover ratio is presently 1.4 days.

Insider Buying and Selling at Data Storage

In related news, CEO Charles M. Piluso sold 41,793 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $3.82, for a total transaction of $159,649.26. Following the completion of the sale, the chief executive officer directly owned 255,684 shares of the company’s stock, valued at approximately $976,712.88. This trade represents a 14.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 86,958 shares of company stock valued at $333,310 in the last ninety days. 21.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Data Storage

Hedge funds have recently made changes to their positions in the stock. Zacks Investment Management acquired a new stake in Data Storage in the fourth quarter valued at $83,000. XTX Topco Ltd acquired a new position in Data Storage during the 4th quarter worth $134,000. Dimensional Fund Advisors LP increased its position in shares of Data Storage by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after purchasing an additional 4,920 shares during the last quarter. Yakira Capital Management Inc. bought a new stake in shares of Data Storage in the 4th quarter worth about $175,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Data Storage in the 3rd quarter worth about $186,000. Institutional investors and hedge funds own 11.56% of the company’s stock.

Data Storage Price Performance

DTST traded down $0.01 on Monday, reaching $3.05. The company’s stock had a trading volume of 3,603 shares, compared to its average volume of 28,067. The stock has a market cap of $7.14 million, a price-to-earnings ratio of -9.25 and a beta of 1.15. Data Storage has a 1 year low of $2.85 and a 1 year high of $5.15. The business’s 50 day moving average is $3.32 and its 200 day moving average is $3.80.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings data 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). The business had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.40 million.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Data Storage in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Data Storage presently has an average rating of “Hold”.

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.