Insider Selling: Data Storage (NASDAQ:DTST) Director Sells $12,172.55 in Stock

by · The Cerbat Gem

Data Storage Corp. (NASDAQ:DTST – Get Free Report) Director Clifford Stein sold 3,991 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $3.05, for a total value of $12,172.55. Following the transaction, the director owned 18,009 shares in the company, valued at approximately $54,927.45. This trade represents a 18.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Price Performance

DTST traded up $0.05 during trading on Friday, hitting $3.04. The stock had a trading volume of 12,219 shares, compared to its average volume of 15,684. The company has a 50 day moving average price of $3.19 and a 200-day moving average price of $3.61. The firm has a market cap of $7.11 million, a price-to-earnings ratio of -4.00 and a beta of 1.15. Data Storage Corp. has a one year low of $2.85 and a one year high of $5.15.

Data Storage (NASDAQ:DTST – Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate 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.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of 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 MarketBeat, Data Storage has an average rating of “Reduce”.

Read Our Latest Analysis on Data Storage

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rothschild Wealth LLC bought a new position in shares of Data Storage in the fourth quarter worth about $205,000. Renaissance Technologies LLC grew its holdings in shares of Data Storage by 54.8% during the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after purchasing an additional 48,200 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Data Storage during the 4th quarter valued at approximately $134,000. Zacks Investment Management acquired a new position in Data Storage during the 4th quarter worth approximately $83,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Data Storage during the 3rd quarter worth approximately $186,000. Institutional investors own 11.56% of the company’s stock.

About Data Storage

(Get Free Report)

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.

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