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

Data Storage Corp. (NASDAQ:DTST) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 3,511 shares, a decrease of 63.9% from the August 31st total of 9,731 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 7,904 shares, the days-to-cover ratio is presently 0.4 days.

Data Storage Trading Up 9.8%

NASDAQ DTST traded up $0.28 on Friday, reaching $3.13. The stock had a trading volume of 182,764 shares, compared to its average volume of 9,717. Data Storage has a 1 year low of $2.75 and a 1 year high of $5.15. The business has a 50 day moving average price of $3.09 and a 200 day moving average price of $3.53. The company has a market capitalization of $7.32 million, a price-to-earnings ratio of -4.12 and a beta of 1.15.

Data Storage (NASDAQ:DTST) last posted its quarterly earnings results 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 firm had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $0.40 million. Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Data Storage currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Yakira Capital Management Inc. acquired a new stake in Data Storage Corp. (NASDAQ:DTST) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 34,116 shares of the company’s stock, valued at approximately $175,000. Yakira Capital Management Inc. owned about 0.47% of Data Storage at the end of the most recent quarter. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Data Storage Company Profile

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data protection, storage and business-continuity services. Its offerings are designed to help organizations back up, preserve and recover business-critical information while supporting ongoing operations in the event of system failures, cyber incidents or other disruptions.

The company’s services include cloud backup and disaster recovery, data archiving, secure cloud storage, managed information-technology services and related cybersecurity solutions.