Short Interest in Data Storage Corp. (NASDAQ:DTST) Declines By 42.7%

Data Storage Corp. (NASDAQ:DTST) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 16,075 shares, a drop of 42.7% from the July 15th total of 28,063 shares. Based on an average daily trading volume, of 11,537 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.9% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Data Storage Stock Performance

DTST stock opened at $3.02 on Wednesday. The company has a market capitalization of $7.06 million, a price-to-earnings ratio of -9.14 and a beta of 1.15. Data Storage has a fifty-two week low of $2.85 and a fifty-two week high of $5.15. The stock has a fifty day moving average of $3.31 and a 200-day moving average of $3.79.

Data Storage (NASDAQ:DTST) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.24). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.40 million.

Insider Buying and Selling at Data Storage

In related news, CEO Charles M. Piluso sold 41,793 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was 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 of the company’s stock, valued at approximately $976,712.88. This trade represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 86,958 shares of company stock valued at $333,310. 21.20% of the stock is owned by insiders.

Institutional Trading of Data Storage

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in Data Storage by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after buying an additional 4,920 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Data Storage in the third quarter worth $186,000. Renaissance Technologies LLC lifted its position in Data Storage by 54.8% during the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after purchasing an additional 48,200 shares during the last quarter. Yakira Capital Management Inc. bought a new position in shares of Data Storage in the 4th quarter worth $175,000. Finally, Rothschild Wealth LLC purchased a new stake in shares of Data Storage during the 4th quarter valued at $205,000. Institutional investors own 11.56% of the company’s stock.

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.