Data Storage Corp. (NASDAQ:DTST) Stock Short Interest Report for September

Data Storage Corp. (NASDAQ:DTST) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 44,847 shares, a growth of 1,177.3% from the September 15th total of 3,511 shares. Based on an average daily trading volume, of 32,318 shares, the short-interest ratio is presently 1.4 days. Approximately 2.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Data Storage

A hedge fund recently bought a new position in Data Storage stock. Alpine Global Management LLC acquired a new position in shares of Data Storage Corp. (NASDAQ:DTST) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned about 0.69% of Data Storage at the end of the most recent quarter. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Data Storage Stock Performance

Shares of DTST traded down $0.01 during midday trading on Friday, hitting $3.27. The company had a trading volume of 6,232 shares, compared to its average volume of 26,109. Data Storage has a 1 year low of $2.75 and a 1 year high of $5.15. The firm has a market capitalization of $7.66 million, a P/E ratio of -4.31 and a beta of 1.19. The company’s 50-day simple moving average is $3.11 and its 200-day simple moving average is $3.49.

Data Storage (NASDAQ:DTST) last released its 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%.

Data Storage Company Profile

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data management, storage, and information technology services. Its offerings are designed to help organizations protect, access, and manage business-critical data while supporting operational continuity.

The company’s services include cloud hosting, data backup and recovery, disaster recovery, cybersecurity, managed information technology, and related business continuity solutions. Data Storage also supports electronic communications and document-management needs through cloud-based services, serving organizations that require secure and reliable access to their applications and information.

Data Storage serves businesses and other organizations, primarily in the United States.