Insider Selling: Data Storage (NASDAQ:DTST) Director Sells 3,991 Shares

Data Storage Corp. (NASDAQ:DTST) Director Clifford Stein sold 3,991 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $3.05, for a total transaction of $12,172.55. Following the transaction, the director owned 18,009 shares of the company’s stock, valued at $54,927.45. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Stock Performance

Shares of DTST traded up $0.05 during trading hours on Friday, reaching $3.04. The stock had a trading volume of 12,219 shares, compared to its average volume of 15,684. Data Storage Corp. has a 12 month low of $2.85 and a 12 month high of $5.15. The stock has a market capitalization of $7.11 million, a PE ratio of -4.00 and a beta of 1.15. The company’s 50-day moving average is $3.19 and its two-hundred day moving average is $3.61.

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

Hedge Funds Weigh In On Data Storage

A number of hedge funds have recently modified their holdings of the business. Rothschild Wealth LLC bought a new stake in shares of Data Storage in the fourth quarter worth $205,000. Renaissance Technologies LLC raised its position 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 purchasing an additional 48,200 shares during the last quarter. XTX Topco Ltd acquired a new position in Data Storage during the 4th quarter worth about $134,000. Zacks Investment Management acquired a new position in Data Storage during the 4th quarter worth about $83,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Data Storage in the 3rd quarter valued at about $186,000. Institutional investors and hedge funds own 11.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.