Data Storage Corp. (NASDAQ:DTST) Sees Large Drop in Short Interest

Data Storage Corp. (NASDAQ:DTST) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 9,731 shares, a decrease of 58.4% from the August 15th total of 23,368 shares. Based on an average daily volume of 16,139 shares, the short-interest ratio is currently 0.6 days. Currently, 0.5% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Data Storage Stock Down 2.0%

Shares of DTST traded down $0.06 during trading hours on Tuesday, reaching $2.87. The company’s stock had a trading volume of 11,163 shares, compared to its average volume of 26,328. The company has a 50 day moving average of $3.18 and a two-hundred day moving average of $3.60. The firm has a market cap of $6.72 million, a price-to-earnings ratio of -3.78 and a beta of 1.15. Data Storage has a 1-year low of $2.85 and a 1-year high of $5.15.

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

Institutional Trading of Data Storage

An institutional investor recently bought a new stake in Data Storage stock. Alpine Global Management LLC bought a new position in Data Storage Corp. (NASDAQ:DTST) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $256,000. Alpine Global Management LLC owned about 0.69% of Data Storage at the end of the most recent reporting period. 11.56% of the stock is owned by hedge funds and other institutional investors.

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.