Insider Selling: Data Storage (NASDAQ:DTST) CFO Sells 11,053 Shares of Stock

Data Storage Corp. (NASDAQ:DTST) CFO Christos Panagiotakos sold 11,053 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $4.99, for a total transaction of $55,154.47. Following the completion of the transaction, the chief financial officer owned 40,507 shares in the company, valued at $202,129.93. This represents a 21.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Data Storage Trading Down 0.6%

Shares of DTST stock traded down $0.03 during trading hours on Friday, reaching $5.00. The company’s stock had a trading volume of 140,685 shares, compared to its average volume of 128,132. The stock has a market capitalization of $36.30 million, a P/E ratio of 2.34 and a beta of 1.13. The firm’s fifty day simple moving average is $4.30 and its 200 day simple moving average is $4.24. Data Storage Corp. has a one year low of $2.93 and a one year high of $5.44.

Data Storage (NASDAQ:DTST) last posted its quarterly earnings data on Wednesday, November 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.16. Data Storage had a negative return on equity of 1.13% and a net margin of 81.52%.The company had revenue of $0.42 million during the quarter, compared to analyst estimates of $0.40 million.

Institutional Trading of Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Elevation Point Wealth Partners LLC purchased a new stake in Data Storage Corp. (NASDAQ:DTST) in the third quarter, according to its most recent 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 about 0.59% of Data Storage at the end of the most recent quarter. 11.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DTST has been the topic of several recent analyst reports. Maxim Group downgraded Data Storage from a “buy” rating to a “hold” rating in a research note on Friday, September 19th. Wall Street Zen raised Data Storage from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Data Storage in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.