Data Storage (NASDAQ:DTST) Stock Price Down 1.4% – What’s Next?

Data Storage Corp. (NASDAQ:DTST)’s stock price was down 1.4% during mid-day trading on Thursday . The company traded as low as $4.10 and last traded at $4.16. Approximately 8,623 shares traded hands during trading, a decline of 71% from the average daily volume of 29,540 shares. The stock had previously closed at $4.22.

Wall Street Analysts Forecast Growth

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

Data Storage Price Performance

The company has a market cap of $30.20 million, a PE ratio of 1.94 and a beta of 1.12. The business has a 50 day moving average of $4.73 and a 200 day moving average of $4.53.

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

Insider Transactions at Data Storage

In other news, Director Todd A. Correll sold 10,471 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $4.96, for a total value of $51,936.16. Following the completion of the transaction, the director owned 33,540 shares in the company, valued at $166,358.40. This trade represents a 23.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles M. Piluso sold 20,089 shares of Data Storage stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $4.99, for a total value of $100,244.11. Following the sale, the chief executive officer owned 413,291 shares in the company, valued at $2,062,322.09. This represents a 4.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 69,988 shares of company stock worth $349,240. 43.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DTST. Elevation Point Wealth Partners LLC purchased a new stake in shares of Data Storage during the third quarter valued at approximately $186,000. Dimensional Fund Advisors LP lifted its position in 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 acquiring an additional 4,920 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Data Storage during the 4th quarter valued at $137,000. 11.56% of the stock is owned by hedge funds and other institutional investors.

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.