Data Storage Corp. (NASDAQ:DTST) Sees Large Decrease in Short Interest

Data Storage Corp. (NASDAQ:DTST) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 3,511 shares, a decrease of 63.9% from the August 31st total of 9,731 shares. Based on an average daily volume of 7,904 shares, the short-interest ratio is presently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Data Storage Stock Performance

Shares of NASDAQ:DTST traded up $0.04 during trading hours on Tuesday, hitting $3.32. The stock had a trading volume of 9,375 shares, compared to its average volume of 26,591. The stock’s fifty day simple moving average is $3.08 and its 200 day simple moving average is $3.52. The firm has a market capitalization of $7.77 million, a price-to-earnings ratio of -4.35 and a beta of 1.15. Data Storage has a 1-year low of $2.75 and a 1-year high of $5.15.

Data Storage (NASDAQ:DTST) last issued 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). Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.40 million.

Hedge Funds Weigh In On Data Storage

A hedge fund recently bought a new position in Data Storage stock. Alpine Global Management LLC acquired a new position in shares of Data Storage Corp. (NASDAQ:DTST) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned 0.69% of Data Storage at the end of the most recent reporting period. Institutional investors own 11.56% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Data Storage Company Profile

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data protection, storage and business-continuity services. Its offerings are designed to help organizations back up, preserve and recover business-critical information while supporting ongoing operations in the event of system failures, cyber incidents or other disruptions.

The company’s services include cloud backup and disaster recovery, data archiving, secure cloud storage, managed information-technology services and related cybersecurity solutions.