Short Interest in Data Storage Corp. (NASDAQ:DTST) Declines By 16.5%

Data Storage Corp. (NASDAQ:DTST) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 45,433 shares, a drop of 16.5% from the December 31st total of 54,427 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average trading volume of 44,372 shares, the days-to-cover ratio is presently 1.0 days. Based on an average trading volume of 44,372 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.1% of the company’s shares are sold short.

Data Storage Stock Performance

DTST stock traded up $0.16 during trading on Tuesday, reaching $4.87. 15,723 shares of the company traded hands, compared to its average volume of 25,650. The business has a 50 day simple moving average of $4.75 and a 200 day simple moving average of $4.54. Data Storage has a 12 month low of $2.93 and a 12 month high of $5.44. The company has a market capitalization of $35.36 million, a price-to-earnings ratio of 2.28 and a beta of 1.18.

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

Insider Activity

In other Data Storage news, CFO Christos Panagiotakos sold 11,053 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer directly owned 40,507 shares in the company, valued at $202,129.93. This trade represents a 21.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Charles M. Piluso sold 20,089 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $4.99, for a total value of $100,244.11. Following the completion of the sale, the chief executive officer owned 413,291 shares of the company’s stock, valued at $2,062,322.09. This represents a 4.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 69,988 shares of company stock valued at $349,240. Insiders own 43.83% of the company’s stock.

Hedge Funds Weigh In On Data Storage

Several institutional investors and hedge funds have recently bought and sold shares of DTST. FNY Investment Advisers LLC acquired a new position in shares of Data Storage during the fourth quarter worth $137,000. Dimensional Fund Advisors LP increased its position in Data Storage by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after buying an additional 4,920 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Data Storage in the third quarter valued at about $186,000. 11.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DTST. Weiss Ratings restated a “sell (d)” rating on shares of Data Storage in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Data Storage from a “sell” rating to a “hold” rating in a report on Friday, November 28th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.