Data Storage Corp. (NASDAQ:DTST) Short Interest Down 42.7% in July

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

Data Storage Price Performance

Shares of DTST stock traded up $0.01 during midday trading on Tuesday, reaching $3.02. 16,937 shares of the company traded hands, compared to its average volume of 28,094. The firm’s 50 day simple moving average is $3.31 and its two-hundred day simple moving average is $3.79. The firm has a market cap of $7.05 million, a PE ratio of -9.12 and a beta of 1.15. Data Storage has a 1-year low of $2.85 and a 1-year high of $5.15.

Data Storage (NASDAQ:DTST) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The firm had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.40 million.

Insider Transactions at Data Storage

In related news, CEO Charles M. Piluso sold 32,610 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $3.82, for a total value of $124,570.20. Following the sale, the chief executive officer directly owned 223,074 shares in the company, valued at approximately $852,142.68. The trade was a 12.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 86,958 shares of company stock worth $333,310 over the last ninety days. 21.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Elevation Point Wealth Partners LLC acquired a new stake in Data Storage during the third quarter valued at approximately $186,000. Rothschild Wealth LLC acquired a new stake in shares of Data Storage in the fourth quarter valued at approximately $205,000. Renaissance Technologies LLC raised its stake in Data Storage by 54.8% during the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after acquiring an additional 48,200 shares in the last quarter. Yakira Capital Management Inc. bought a new stake in shares of Data Storage during the fourth quarter valued at about $175,000. Finally, Zacks Investment Management acquired a new stake in shares of Data Storage in the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Analysts Set New Price Targets

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, According to MarketBeat, the company currently has an average rating of “Hold”.

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.