Data Storage Corp. (NASDAQ:DTST) Short Interest Update

Data Storage Corp. (NASDAQ:DTST) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 38,636 shares, a decline of 15.0% from the January 15th total of 45,433 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 19,410 shares, the short-interest ratio is presently 2.0 days. Based on an average trading volume of 19,410 shares, the short-interest ratio is presently 2.0 days. Currently, 0.9% of the shares of the company are sold short.

Data Storage Trading Up 0.2%

Shares of NASDAQ:DTST opened at $4.41 on Wednesday. Data Storage has a 1-year low of $2.93 and a 1-year high of $5.44. The stock has a market capitalization of $32.02 million, a P/E ratio of 2.06 and a beta of 1.18. The business has a 50-day moving average price of $4.76 and a two-hundred day moving average price of $4.52.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings results on Wednesday, November 19th. The company reported $0.02 EPS 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 company had revenue of $0.42 million during the quarter, compared to analysts’ expectations of $0.40 million.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DTST. Wall Street Zen raised shares of Data Storage from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Data Storage in a research note on Wednesday, January 21st. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Insider Transactions at Data Storage

In other news, CFO Christos Panagiotakos sold 11,053 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $4.99, for a total transaction of $55,154.47. Following the sale, the chief financial officer directly owned 40,507 shares in the company, valued at approximately $202,129.93. The trade was a 21.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Lawrence A. Maglione sold 18,231 shares of the company’s stock in a transaction on 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 transaction, the director owned 28,050 shares of the company’s stock, valued at $140,250. The trade was a 39.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 69,988 shares of company stock worth $349,240. 43.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Data Storage

Several hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in shares of Data Storage during the 4th quarter worth about $137,000. Dimensional Fund Advisors LP increased its stake in Data Storage by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after purchasing an additional 4,920 shares in the last quarter. Yakira Capital Management Inc. acquired a new stake in Data Storage in the fourth quarter worth $175,000. Elevation Point Wealth Partners LLC bought a new position in shares of Data Storage during the third quarter worth $186,000. Finally, Rothschild Wealth LLC acquired a new position in shares of Data Storage in the 4th quarter valued at $205,000. Institutional investors and hedge funds own 11.56% of the company’s stock.

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.