Short Interest in Data Storage Corp. (NASDAQ:DTST) Rises By 63.8%

Data Storage Corp. (NASDAQ:DTST) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 64,759 shares, a growth of 63.8% from the March 31st total of 39,541 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 66,243 shares, the short-interest ratio is currently 1.0 days.

Data Storage Trading Up 0.6%

Shares of NASDAQ:DTST traded up $0.03 during trading on Wednesday, hitting $4.04. 5,217 shares of the company’s stock were exchanged, compared to its average volume of 27,311. Data Storage has a 1-year low of $3.25 and a 1-year high of $5.44. The firm has a 50-day moving average price of $3.98 and a two-hundred day moving average price of $4.34. The firm has a market cap of $8.75 million, a P/E ratio of 1.89 and a beta of 1.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DTST. FNY Investment Advisers LLC bought a new stake in shares of Data Storage in the fourth quarter worth $137,000. Yakira Capital Management Inc. bought a new stake in shares of Data Storage in the fourth quarter worth $175,000. Dimensional Fund Advisors LP lifted its position in shares of Data Storage by 15.1% in the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after purchasing an additional 4,920 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Data Storage in the third quarter worth $186,000. Finally, Renaissance Technologies LLC lifted its position in shares of Data Storage by 54.8% in the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after purchasing an additional 48,200 shares in the last quarter. Institutional investors and hedge funds own 11.56% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Data Storage from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.