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

Data Storage Corp. (NASDAQ:DTST) shares dropped 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 changed hands during trading, a decline of 71% from the average daily volume of 29,540 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Data Storage from a “sell” rating to a “hold” rating in a research report on Friday, November 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Data Storage in a research note on Wednesday, January 21st. One investment 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, the company has an average rating of “Sell”.

Data Storage Price Performance

The firm has a market capitalization of $32.45 million, a price-to-earnings ratio of 2.09 and a beta of 1.12. The business’s fifty day simple moving average is $4.73 and its 200 day simple moving average is $4.54.

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

Insiders Place Their Bets

In other Data Storage news, 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 value of $55,154.47. Following the completion of the sale, the chief financial officer owned 40,507 shares of the company’s stock, valued at approximately $202,129.93. This trade represents a 21.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Todd A. Correll sold 10,471 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $4.96, for a total value of $51,936.16. Following the sale, the director owned 33,540 shares of the company’s stock, valued at approximately $166,358.40. This represents a 23.79% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 69,988 shares of company stock valued at $349,240. 43.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in shares of Data Storage during the fourth quarter worth about $137,000. Elevation Point Wealth Partners LLC bought a new position in Data Storage in the 3rd quarter valued at about $186,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 4,920 shares during the last quarter. 11.56% of the stock is owned by 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.