Lawrence Maglione Sells 3,298 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) Director Lawrence Maglione sold 3,298 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $5.03, for a total transaction of $16,588.94. Following the transaction, the director owned 24,752 shares of the company’s stock, valued at approximately $124,502.56. The trade was a 11.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Data Storage Price Performance

Shares of NASDAQ DTST traded up $0.02 during trading on Monday, hitting $5.02. 121,891 shares of the company were exchanged, compared to its average volume of 134,398. The firm’s fifty day moving average price is $4.32 and its 200 day moving average price is $4.26. The company has a market cap of $36.45 million, a price-to-earnings ratio of 2.35 and a beta of 1.13. Data Storage Corp. has a 1 year low of $2.93 and a 1 year high of $5.44.

Data Storage (NASDAQ:DTST) last released its quarterly earnings results on Wednesday, November 19th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.16. The business had revenue of $0.42 million during the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a negative return on equity of 1.13% and a net margin of 81.52%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTST. Weiss Ratings restated a “sell (d)” rating on shares of Data Storage in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Data Storage from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Finally, Maxim Group downgraded shares of Data Storage from a “buy” rating to a “hold” rating in a research note on Friday, September 19th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Elevation Point Wealth Partners LLC acquired a new position in Data Storage Corp. (NASDAQ:DTST) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 43,100 shares of the company’s stock, valued at approximately $186,000. Elevation Point Wealth Partners LLC owned 0.59% of Data Storage at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.56% of the company’s stock.

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.