Data Storage (NASDAQ:DTST) Releases Earnings Results, Beats Estimates By $0.16 EPS

Data Storage (NASDAQ:DTST) announced its quarterly earnings results on Wednesday. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.16, Zacks reports. Data Storage had a negative net margin of 1.17% and a negative return on equity of 1.42%.

Data Storage Stock Performance

NASDAQ DTST traded up $0.18 during trading on Wednesday, reaching $4.24. The company’s stock had a trading volume of 29,149 shares, compared to its average volume of 132,378. The firm has a market cap of $30.75 million, a price-to-earnings ratio of -106.97 and a beta of 0.98. Data Storage has a twelve month low of $2.93 and a twelve month high of $5.44. The business’s fifty day moving average price is $4.26 and its 200-day moving average price is $4.15.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DTST. Wall Street Zen downgraded shares of Data Storage from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Data Storage in a report on Wednesday, October 8th. Finally, Maxim Group downgraded Data Storage from a “buy” rating to a “hold” rating in a research note on Friday, September 19th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Data Storage presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Data Storage

An institutional investor recently bought a new position in Data Storage stock. Elevation Point Wealth Partners LLC purchased a new stake in Data Storage Corp. (NASDAQ:DTST) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 43,100 shares of the company’s stock, valued at approximately $186,000. Elevation Point Wealth Partners LLC owned 0.59% of Data Storage as of its most recent SEC filing. 11.56% of the stock is currently owned by institutional investors and hedge funds.

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.