Data Storage Corp. (NASDAQ:DTST) Sees Large Decrease in Short Interest

Data Storage Corp. (NASDAQ:DTST) was the target of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 50,852 shares, a decrease of 32.7% from the November 30th total of 75,521 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 186,512 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 186,512 shares, the days-to-cover ratio is presently 0.3 days. Approximately 1.2% of the company’s stock are short sold.

Insider Buying and Selling at Data Storage

In other news, Director Lawrence A. Maglione sold 18,231 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $5.00, for a total value of $91,155.00. Following the completion of the sale, the director owned 28,050 shares in the company, valued at $140,250. This represents a 39.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas Kempster sold 6,846 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $4.99, for a total transaction of $34,161.54. Following the transaction, the director directly owned 871,972 shares in the company, valued at $4,351,140.28. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 69,988 shares of company stock worth $349,240. 43.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Elevation Point Wealth Partners LLC purchased a new position in Data Storage Corp. (NASDAQ:DTST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,100 shares of the company’s stock, valued at approximately $186,000. Elevation Point Wealth Partners LLC owned 0.59% of Data Storage at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Analyst Ratings Changes

DTST has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Data Storage from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Data Storage in a research report on Wednesday, October 8th. Finally, Maxim Group downgraded shares of Data Storage from a “buy” rating to a “hold” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Data Storage has an average rating of “Sell”.

Data Storage Stock Performance

NASDAQ DTST traded up $0.02 during trading on Wednesday, hitting $5.11. 26,816 shares of the company’s stock traded hands, compared to its average volume of 130,467. The stock has a market capitalization of $37.12 million, a price-to-earnings ratio of 2.39 and a beta of 1.13. Data Storage has a 12-month low of $2.93 and a 12-month high of $5.44. The business has a 50 day moving average of $4.50 and a 200-day moving average of $4.36.

Data Storage (NASDAQ:DTST) last posted its earnings results on Wednesday, November 19th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.16. Data Storage had a net margin of 81.52% and a negative return on equity of 1.13%. The firm had revenue of $0.42 million during the quarter, compared to the consensus estimate 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.