Data Storage (NASDAQ:DTST) Director Thomas Kempster Sells 3,500 Shares

Data Storage Corp. (NASDAQ:DTST) Director Thomas Kempster sold 3,500 shares of Data Storage stock in a transaction on Friday, September 11th. The stock was sold at an average price of $2.92, for a total transaction of $10,220.00. Following the transaction, the director directly owned 18,500 shares of the company’s stock, valued at $54,020. This represents a 15.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Trading Down 3.6%

Shares of DTST opened at $2.93 on Tuesday. The stock has a market capitalization of $6.86 million, a P/E ratio of -3.86 and a beta of 1.15. The firm’s fifty day simple moving average is $3.18 and its two-hundred day simple moving average is $3.60. Data Storage Corp. has a 12 month low of $2.85 and a 12 month high of $5.15.

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

Hedge Funds Weigh In On Data Storage

A hedge fund recently bought a new position in Data Storage stock. Alpine Global Management LLC purchased a new position in shares of Data Storage Corp. (NASDAQ:DTST) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned about 0.69% of Data Storage as of its most recent filing with the Securities and Exchange Commission (SEC). 11.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average 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.