Data Storage (NASDAQ:DTST) Shares Down 1.5% – Should You Sell?

Shares of Data Storage Corp. (NASDAQ:DTST) traded down 1.5% during trading on Tuesday . The company traded as low as $3.13 and last traded at $3.26. 28,258 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 28,740 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

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

Data Storage Stock Down 1.5%

The stock has a market cap of $7.07 million, a price-to-earnings ratio of -9.88 and a beta of 1.10. The business’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $4.25.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.09. The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.40 million. Data Storage had a net margin of 81.52% and a negative return on equity of 3.76%.

Insider Buying and Selling at Data Storage

In other news, CEO Charles M. Piluso sold 41,793 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $3.82, for a total value of $159,649.26. Following the transaction, the chief executive officer directly owned 255,684 shares of the company’s stock, valued at $976,712.88. This represents a 14.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 86,958 shares of company stock valued at $333,310 over the last 90 days. 43.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Data Storage

Several large investors have recently modified their holdings of DTST. Alpine Global Management LLC bought a new position in Data Storage during the fourth quarter worth about $256,000. Renaissance Technologies LLC increased its position in Data Storage by 54.8% during the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after acquiring an additional 48,200 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Data Storage during the third quarter worth about $186,000. Rothschild Wealth LLC bought a new position in Data Storage during the fourth quarter worth about $205,000. Finally, Yakira Capital Management Inc. bought a new position in Data Storage during the fourth quarter worth about $175,000. 11.56% of the stock is owned by institutional investors.

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.