Data Storage Corp. (NASDAQ:DTST) Short Interest Update

Data Storage Corp. (NASDAQ:DTST) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 30,806 shares, a drop of 28.1% from the February 26th total of 42,838 shares. Based on an average daily volume of 11,268 shares, the short-interest ratio is presently 2.7 days. Currently, 0.8% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have commented on DTST. Wall Street Zen upgraded shares of Data Storage from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Data Storage in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Sell”.

Data Storage Price Performance

Shares of DTST stock traded up $0.13 during trading hours on Friday, reaching $4.05. The company had a trading volume of 11,016 shares, compared to its average volume of 14,912. The company has a market cap of $29.40 million, a price-to-earnings ratio of 1.89 and a beta of 1.10. Data Storage has a 12 month low of $2.93 and a 12 month high of $5.44. The business has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $4.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DTST. Alpine Global Management LLC purchased a new stake in shares of Data Storage during the 4th quarter worth approximately $256,000. Renaissance Technologies LLC lifted its stake in Data Storage by 54.8% in 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. Elevation Point Wealth Partners LLC purchased a new position in Data Storage in the third quarter valued at approximately $186,000. Rothschild Wealth LLC bought a new stake in shares of Data Storage in the fourth quarter valued at $205,000. Finally, Yakira Capital Management Inc. purchased a new position in shares of Data Storage during the 4th quarter valued at $175,000. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

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.