Insider Selling: Data Storage (NASDAQ:DTST) CEO Sells 32,610 Shares of Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 32,610 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.82, for a total transaction of $124,570.20. Following the sale, the chief executive officer directly owned 223,074 shares of the company’s stock, valued at approximately $852,142.68. The trade was a 12.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Price Performance

Shares of NASDAQ:DTST traded up $0.07 during midday trading on Tuesday, hitting $3.84. 69,139 shares of the company’s stock were exchanged, compared to its average volume of 44,198. The stock has a 50 day moving average price of $4.00 and a 200-day moving average price of $4.32. The company has a market cap of $8.33 million, a PE ratio of -11.64 and a beta of 1.15. Data Storage Corp. has a 12 month low of $3.25 and a 12 month high of $5.44.

Data Storage (NASDAQ:DTST) last posted its earnings results on Friday, May 15th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.09. The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a net margin of 81.52% and a negative return on equity of 3.76%.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Data Storage from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpine Global Management LLC purchased a new position in Data Storage during the fourth quarter worth about $256,000. XTX Topco Ltd purchased a new position in Data Storage during the fourth quarter worth about $134,000. Zacks Investment Management bought a new stake in Data Storage during the 4th quarter worth approximately $83,000. Rothschild Wealth LLC bought a new stake in Data Storage during the 4th quarter worth approximately $205,000. Finally, Yakira Capital Management Inc. bought a new stake in Data Storage during the 4th quarter worth approximately $175,000. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

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.