Data Storage Corp. (NASDAQ:DTST) Short Interest Down 37.3% in July

Data Storage Corp. (NASDAQ:DTST) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 28,063 shares, a decline of 37.3% from the June 30th total of 44,772 shares. Based on an average trading volume of 13,954 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Data Storage in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Insider Activity at Data Storage

In other news, CEO Charles M. Piluso sold 41,793 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.82, for a total transaction of $159,649.26. Following the completion of the sale, the chief executive officer directly owned 255,684 shares in the company, valued at approximately $976,712.88. This represents a 14.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 86,958 shares of company stock worth $333,310 over the last ninety days. Corporate insiders own 21.20% of the company’s stock.

Hedge Funds Weigh In On Data Storage

A number of institutional investors have recently bought and sold shares of the stock. Zacks Investment Management bought a new position in Data Storage in the fourth quarter worth about $83,000. XTX Topco Ltd bought a new stake in Data Storage during the 4th quarter valued at approximately $134,000. FNY Investment Advisers LLC purchased a new position in shares of Data Storage during the 4th quarter worth approximately $137,000. Yakira Capital Management Inc. purchased a new position in shares of Data Storage during the 4th quarter worth approximately $175,000. Finally, Dimensional Fund Advisors LP raised its position 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. 11.56% of the stock is owned by institutional investors.

Data Storage Price Performance

NASDAQ:DTST traded down $0.03 during trading hours on Thursday, hitting $2.90. The company had a trading volume of 9,390 shares, compared to its average volume of 28,718. The company has a market capitalization of $6.79 million, a PE ratio of -8.79 and a beta of 1.10. The stock has a 50-day moving average price of $3.43 and a 200 day moving average price of $3.91. Data Storage has a 52 week low of $2.85 and a 52 week high of $5.15.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.09. The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.40 million.

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.