Charles Piluso Sells 41,793 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 41,793 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $3.82, for a total value of $159,649.26. Following the completion of the transaction, the chief executive officer directly owned 255,684 shares of the company’s stock, valued at approximately $976,712.88. This trade represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Trading Up 1.9%

Shares of NASDAQ DTST traded up $0.07 during trading on Tuesday, reaching $3.84. The company had a trading volume of 69,139 shares, compared to its average volume of 44,198. Data Storage Corp. has a twelve month low of $3.25 and a twelve month high of $5.44. The stock has a market capitalization of $8.33 million, a PE ratio of -11.64 and a beta of 1.15. The stock has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $4.32.

Data Storage (NASDAQ:DTST) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $0.40 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Data Storage from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Data Storage

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Data Storage by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after purchasing an additional 4,920 shares during the last quarter. Zacks Investment Management acquired a new position in Data Storage in the fourth quarter valued at $83,000. XTX Topco Ltd acquired a new position in Data Storage in the fourth quarter valued at $134,000. FNY Investment Advisers LLC acquired a new stake in Data Storage during the fourth quarter worth about $137,000. Finally, Yakira Capital Management Inc. acquired a new stake in Data Storage during the fourth quarter worth about $175,000. 11.56% of the stock is currently owned by institutional investors and hedge funds.

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.