Data Storage (NASDAQ:DTST) Announces Earnings Results, Beats Expectations By $0.16 EPS

Data Storage (NASDAQ:DTST) issued its quarterly earnings results on Wednesday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.16, Zacks reports. Data Storage had a negative net margin of 1.17% and a negative return on equity of 1.42%.

Data Storage Stock Up 4.3%

DTST stock traded up $0.18 during trading on Wednesday, hitting $4.24. 43,658 shares of the company’s stock traded hands, compared to its average volume of 132,379. The stock has a market capitalization of $30.75 million, a price-to-earnings ratio of -106.72 and a beta of 0.98. Data Storage has a 52 week low of $2.93 and a 52 week high of $5.44. The stock has a fifty day moving average price of $4.26 and a two-hundred day moving average price of $4.15.

Institutional Investors Weigh In On Data Storage

A hedge fund recently raised its stake in Data Storage stock. Dimensional Fund Advisors LP boosted its holdings in Data Storage Corp. (NASDAQ:DTST) by 15.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,574 shares of the company’s stock after acquiring an additional 4,920 shares during the period. Dimensional Fund Advisors LP owned about 0.52% of Data Storage worth $162,000 at the end of the most recent quarter. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DTST shares. Wall Street Zen downgraded shares of Data Storage from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Weiss Ratings restated a “sell (d)” rating on shares of Data Storage in a report on Wednesday, October 8th. Finally, Maxim Group downgraded Data Storage from a “buy” rating to a “hold” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Data Storage presently has a consensus rating of “Sell”.

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.