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

Data Storage Corp. (NASDAQ:DTST) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 27,299 shares, a decrease of 39.1% from the September 30th total of 44,847 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 9,470 shares, the short-interest ratio is currently 2.9 days.

Analysts Set New Price Targets

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

Data Storage Stock Down 3.3%

Shares of NASDAQ DTST opened at $2.97 on Friday. The firm’s 50-day simple moving average is $3.08 and its 200 day simple moving average is $3.64. The company has a market cap of $6.95 million, a price-to-earnings ratio of -3.91 and a beta of 1.19. Data Storage has a 12-month low of $2.75 and a 12-month high of $5.15.

Data Storage (NASDAQ:DTST) last released its earnings results on Friday, August 14th. The company reported ($0.53) earnings per share 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 firm had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.40 million.

Data Storage Company Profile

Data Storage Corporation provides cloud-based data management and information technology services for businesses. Its offerings are designed to help organizations protect, store, access and recover critical business data while supporting operational continuity.

The company’s services include cloud backup, disaster recovery, cloud storage, managed hosting and related infrastructure solutions. It also provides technology support intended to improve data security, system availability and recovery capabilities in the event of equipment failure, cyber incidents or other disruptions.

Data Storage Corporation primarily serves business customers in the United States.