Short Interest in Data Storage Corp. (NASDAQ:DTST) Declines By 37.3%

Data Storage Corp. (NASDAQ:DTST) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 28,063 shares, a decrease of 37.3% from the June 30th total of 44,772 shares. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 13,954 shares, the short-interest ratio is presently 2.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Data Storage in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Data Storage has a consensus rating of “Hold”.

Data Storage Trading Down 1.0%

Shares of DTST traded down $0.03 during mid-day trading on Thursday, reaching $2.90. The company’s stock had a trading volume of 9,390 shares, compared to its average volume of 28,718. Data Storage has a 52 week low of $2.85 and a 52 week high of $5.15. The stock has a market cap of $6.79 million, a PE ratio of -8.79 and a beta of 1.10. The company’s fifty day moving average price is $3.43 and its two-hundred day moving average price is $3.91.

Data Storage (NASDAQ:DTST) last released its earnings results on Friday, May 15th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.09. The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.40 million.

Insider Buying and Selling at Data Storage

In other news, CEO Charles M. Piluso sold 32,610 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $3.82, for a total transaction of $124,570.20. Following the sale, the chief executive officer owned 223,074 shares in the company, valued at approximately $852,142.68. This trade represents a 12.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 86,958 shares of company stock worth $333,310. Company insiders own 21.20% of the company’s stock.

Institutional Investors Weigh In On Data Storage

Several institutional investors have recently bought and sold shares of the stock. Zacks Investment Management purchased a new position in Data Storage in the 4th quarter worth approximately $83,000. XTX Topco Ltd purchased a new stake in shares of Data Storage during the fourth quarter valued at approximately $134,000. FNY Investment Advisers LLC bought a new position in shares of Data Storage in the fourth quarter worth approximately $137,000. Dimensional Fund Advisors LP increased its stake 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 buying an additional 4,920 shares during the period. Finally, Yakira Capital Management Inc. purchased a new position in shares of Data Storage in the fourth quarter worth $175,000. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

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.