Data Storage (NASDAQ:DTST) Stock Price Down 1.5% – What’s Next?

Data Storage Corp. (NASDAQ:DTST) shares were down 1.5% during mid-day trading on Tuesday . The company traded as low as $3.13 and last traded at $3.26. Approximately 28,258 shares were traded during mid-day trading, a decline of 2% from the average session volume of 28,740 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

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

Data Storage Price Performance

The company has a market cap of $7.10 million, a price-to-earnings ratio of -9.91 and a beta of 1.10. The business’s fifty day moving average price is $3.86 and its 200 day moving average price is $4.24.

Data Storage (NASDAQ:DTST) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. The business had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a negative return on equity of 3.76% and a net margin of 81.52%.

Insider Activity at Data Storage

In other news, CEO Charles M. Piluso sold 32,610 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $3.82, for a total transaction of $124,570.20. Following the completion of the transaction, the chief executive officer directly owned 223,074 shares in the company, valued at $852,142.68. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 86,958 shares of company stock valued at $333,310. Insiders own 43.83% of the company’s stock.

Institutional Trading of Data Storage

Institutional investors have recently added to or reduced their stakes in the stock. Alpine Global Management LLC acquired a new stake in Data Storage during the 4th quarter valued at approximately $256,000. Renaissance Technologies LLC boosted its stake in shares of Data Storage by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after purchasing an additional 48,200 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Data Storage in the 3rd quarter valued at $186,000. Rothschild Wealth LLC acquired a new stake in shares of Data Storage during the fourth quarter worth $205,000. Finally, Yakira Capital Management Inc. acquired a new stake in shares of Data Storage during the fourth quarter worth $175,000. 11.56% of the stock is currently owned by institutional investors.

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.