Data Storage Corp. (NASDAQ:DTST) Sees Significant Decline in Short Interest

Data Storage Corp. (NASDAQ:DTST) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 9,731 shares, a decline of 58.4% from the August 15th total of 23,368 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 16,139 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Data Storage

A hedge fund recently bought a new stake in Data Storage stock. Alpine Global Management LLC purchased a new stake in Data Storage Corp. (NASDAQ:DTST) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned approximately 0.69% of Data Storage as of its most recent filing with the Securities & Exchange Commission. 11.56% of the stock is owned by hedge funds and other institutional investors.

Data Storage Price Performance

Shares of NASDAQ DTST traded down $0.11 during midday trading on Monday, reaching $2.93. The company’s stock had a trading volume of 8,584 shares, compared to its average volume of 26,392. The stock has a market capitalization of $6.86 million, a P/E ratio of -3.86 and a beta of 1.15. The firm has a 50 day moving average price of $3.19 and a 200-day moving average price of $3.60. Data Storage has a 12-month low of $2.85 and a 12-month high of $5.15.

Data Storage (NASDAQ:DTST) last released its earnings results on Friday, August 14th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.24). The business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Data Storage from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, September 3rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

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.