Data Storage Corp. (NASDAQ:DTST) Shares Shorted: Short Interest Up 1,177.3% in September

Data Storage Corp. (NASDAQ:DTST) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 44,847 shares, an increase of 1,177.3% from the September 15th total of 3,511 shares. Based on an average daily volume of 32,318 shares, the short-interest ratio is presently 1.4 days. Approximately 2.4% of the company’s shares are sold short.

Data Storage Stock Performance

Shares of DTST opened at $3.27 on Friday. The company has a market capitalization of $7.66 million, a PE ratio of -4.31 and a beta of 1.19. The company’s 50 day moving average price is $3.12 and its 200 day moving average price is $3.49. Data Storage has a 52 week low of $2.75 and a 52 week high of $5.15.

Data Storage (NASDAQ:DTST) last issued its earnings results on Friday, August 14th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.24). Data Storage had a net margin of 1,247.09% and a negative return on equity of 5.48%. The firm had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.40 million.

Hedge Funds Weigh In On Data Storage

An institutional investor recently bought a new position in Data Storage stock. Alpine Global Management LLC acquired a new position in Data Storage Corp. (NASDAQ:DTST) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned about 0.69% of Data Storage at the end of the most recent quarter. Institutional investors and hedge funds own 11.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Data Storage Company Profile

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data management, storage, and information technology services. Its offerings are designed to help organizations protect, access, and manage business-critical data while supporting operational continuity.

The company’s services include cloud hosting, data backup and recovery, disaster recovery, cybersecurity, managed information technology, and related business continuity solutions. Data Storage also supports electronic communications and document-management needs through cloud-based services, serving organizations that require secure and reliable access to their applications and information.

Data Storage serves businesses and other organizations, primarily in the United States.