Data Storage Corp. (NASDAQ:DTST) Short Interest Down 15.0% in January

Data Storage Corp. (NASDAQ:DTST) was the recipient of a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 38,636 shares, a drop of 15.0% from the January 15th total of 45,433 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily volume of 19,410 shares, the short-interest ratio is presently 2.0 days. Based on an average daily volume of 19,410 shares, the short-interest ratio is presently 2.0 days. Approximately 0.9% of the shares of the stock are short sold.

Data Storage Stock Up 2.1%

NASDAQ:DTST opened at $4.40 on Monday. Data Storage has a 12-month low of $2.93 and a 12-month high of $5.44. The stock’s fifty day simple moving average is $4.78 and its 200-day simple moving average is $4.52. The firm has a market capitalization of $31.94 million, a P/E ratio of 2.06 and a beta of 1.18.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DTST shares. Weiss Ratings restated a “sell (d)” rating on shares of Data Storage in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of Data Storage from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. 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, Data Storage currently has an average rating of “Sell”.

Insider Buying and Selling

In other Data Storage news, Director Todd A. Correll sold 10,471 shares of Data Storage stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $4.96, for a total transaction of $51,936.16. Following the completion of the transaction, the director directly owned 33,540 shares of the company’s stock, valued at approximately $166,358.40. This trade represents a 23.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Kempster sold 6,846 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $4.99, for a total transaction of $34,161.54. Following the sale, the director owned 871,972 shares of the company’s stock, valued at $4,351,140.28. This trade represents a 0.78% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 69,988 shares of company stock worth $349,240. Insiders own 43.83% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTST. FNY Investment Advisers LLC acquired a new position in Data Storage in the fourth quarter valued at about $137,000. Dimensional Fund Advisors LP grew its position in shares of Data Storage by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after purchasing an additional 4,920 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Data Storage during the 3rd quarter worth approximately $186,000. Finally, Renaissance Technologies LLC raised its holdings in Data Storage by 54.8% during the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock worth $697,000 after buying an additional 48,200 shares during the period. 11.56% of the stock is currently 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.