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

Data Storage Corp. (NASDAQ:DTST) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 30,806 shares, a decrease of 28.1% from the February 26th total of 42,838 shares. Based on an average daily trading volume, of 11,268 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Data Storage

Several hedge funds and other institutional investors have recently bought and sold shares of DTST. Dimensional Fund Advisors LP boosted its position in shares of Data Storage by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after purchasing an additional 4,920 shares in the last quarter. Zacks Investment Management acquired a new position in Data Storage during the 4th quarter worth approximately $83,000. XTX Topco Ltd bought a new position in Data Storage in the fourth quarter worth approximately $134,000. FNY Investment Advisers LLC acquired a new stake in Data Storage in the fourth quarter valued at approximately $137,000. Finally, Yakira Capital Management Inc. bought a new stake in shares of Data Storage during the fourth quarter valued at approximately $175,000. 11.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DTST has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Data Storage in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Data Storage from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Data Storage Price Performance

Shares of DTST traded up $0.13 during trading hours on Friday, hitting $4.05. 11,016 shares of the stock were exchanged, compared to its average volume of 14,912. The business has a 50-day moving average of $4.21 and a 200-day moving average of $4.41. Data Storage has a fifty-two week low of $2.93 and a fifty-two week high of $5.44. The firm has a market capitalization of $29.40 million, a P/E ratio of 1.89 and a beta of 1.10.

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.