Data Storage Corp. (NASDAQ:DTST) Shares Shorted: Short Interest Down 39.1% in October

Data Storage Corp. (NASDAQ:DTST) saw a significant decrease in short interest in 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. Based on an average trading volume of 9,470 shares, the short-interest ratio is presently 2.9 days. Currently, 1.5% of the company’s stock are sold short.

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 research report on Thursday, September 3rd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Data Storage presently has a consensus rating of “Sell”.

Data Storage Stock Down 3.3%

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

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 the consensus estimate 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 business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.40 million.

About Data Storage

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.