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

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

Insider Buying and Selling at Data Storage

In other news, CEO Charles M. Piluso sold 41,793 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was 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 owned 255,684 shares in the company, valued at approximately $976,712.88. The trade was a 14.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 86,958 shares of company stock valued at $333,310. Insiders own 21.20% of the company’s stock.

Institutional Investors Weigh In On Data Storage

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Data Storage by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after buying an additional 4,920 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in Data Storage in the 3rd quarter worth approximately $186,000. Renaissance Technologies LLC boosted its holdings in Data Storage by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after acquiring an additional 48,200 shares during the period. Yakira Capital Management Inc. acquired a new stake in Data Storage in the fourth quarter valued at approximately $175,000. Finally, Rothschild Wealth LLC acquired a new stake in Data Storage in the fourth quarter valued at approximately $205,000. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Analyst Ratings Changes

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

Data Storage Stock Performance

Shares of NASDAQ:DTST traded down $0.01 during midday trading on Monday, hitting $3.05. 3,603 shares of the company’s stock traded hands, compared to its average volume of 28,067. The firm’s fifty day moving average price is $3.32 and its two-hundred day moving average price is $3.80. Data Storage has a twelve month low of $2.85 and a twelve month high of $5.15. The company has a market cap of $7.14 million, a PE ratio of -9.25 and a beta of 1.15.

Data Storage (NASDAQ:DTST) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The company had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.40 million.

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.