Data Storage (NASDAQ:DTST) Director Sells $12,172.55 in Stock

Data Storage Corp. (NASDAQ:DTST) Director Clifford Stein sold 3,991 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $3.05, for a total value of $12,172.55. Following the completion of the sale, the director owned 18,009 shares of the company’s stock, valued at approximately $54,927.45. This represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Price Performance

NASDAQ DTST opened at $3.04 on Monday. Data Storage Corp. has a 52 week low of $2.85 and a 52 week high of $5.15. The firm has a market capitalization of $7.11 million, a price-to-earnings ratio of -4.00 and a beta of 1.15. The company has a fifty day moving average of $3.19 and a two-hundred day moving average of $3.60.

Data Storage (NASDAQ:DTST) last announced its earnings results on Friday, August 14th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The firm had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.40 million. Data Storage had a net margin of 1,247.09% and a negative return on equity of 5.48%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DTST. Yakira Capital Management Inc. bought a new stake in Data Storage during the 4th quarter valued at about $175,000. Elevation Point Wealth Partners LLC bought a new position in Data Storage in the 3rd quarter worth about $186,000. Renaissance Technologies LLC grew its stake 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 in the last quarter. Rothschild Wealth LLC purchased a new position in shares of Data Storage during the fourth quarter worth approximately $205,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Data Storage by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after acquiring an additional 4,920 shares during the period. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered 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 Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 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.