Short Interest in Data Storage Corp. (NASDAQ:DTST) Rises By 63.8%

Data Storage Corp. (NASDAQ:DTST) saw a significant increase in short interest in April. As of April 15th, there was short interest totaling 64,759 shares, an increase of 63.8% from the March 31st total of 39,541 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 66,243 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Data Storage from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Data Storage

A number of institutional investors have recently added to or reduced their stakes in the company. Zacks Investment Management purchased a new position in Data Storage during the fourth quarter valued at $83,000. XTX Topco Ltd purchased a new stake in shares of Data Storage in the 4th quarter worth about $134,000. FNY Investment Advisers LLC purchased a new stake in shares of Data Storage in the 4th quarter worth about $137,000. Dimensional Fund Advisors LP increased its stake in shares of Data Storage by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after acquiring an additional 4,920 shares in the last quarter. Finally, Yakira Capital Management Inc. bought a new position in shares of Data Storage in the 4th quarter worth about $175,000. Institutional investors own 11.56% of the company’s stock.

Data Storage Trading Up 3.6%

Shares of DTST stock traded up $0.14 during midday trading on Monday, reaching $4.06. 32,278 shares of the stock were exchanged, compared to its average volume of 27,341. Data Storage has a 1 year low of $3.25 and a 1 year high of $5.44. The firm has a market cap of $8.81 million, a PE ratio of 1.90 and a beta of 1.18. The company’s 50 day moving average is $4.00 and its two-hundred day moving average is $4.34.

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.