Data Storage (NASDAQ:DTST) CEO Sells $49,090.05 in Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 12,555 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $3.91, for a total value of $49,090.05. Following the transaction, the chief executive officer owned 297,477 shares in the company, valued at approximately $1,163,135.07. This trade represents a 4.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Stock Down 1.6%

Shares of DTST stock opened at $3.72 on Friday. Data Storage Corp. has a 12 month low of $3.25 and a 12 month high of $5.44. The business’s 50 day moving average is $3.99 and its two-hundred day moving average is $4.32. The company has a market cap of $8.07 million, a PE ratio of -11.27 and a beta of 1.15.

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

Institutional Investors Weigh In On Data Storage

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Wealth LLC acquired a new stake in Data Storage during the fourth quarter worth $205,000. Renaissance Technologies LLC boosted its stake in Data Storage by 54.8% during the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after buying an additional 48,200 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Data Storage during the third quarter worth $186,000. Alpine Global Management LLC acquired a new stake in Data Storage during the fourth quarter worth $256,000. Finally, XTX Topco Ltd acquired a new stake in Data Storage during the fourth quarter worth $134,000. 11.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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 stock. According to MarketBeat, the company currently has a consensus rating of “Reduce”.

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.