Key Points
- Data Storage director Clifford Stein sold 3,991 shares at an average price of $3.05, generating $12,172.55. The sale reduced his direct ownership by 18.14% and was intended to cover tax withholding on vested equity awards.
- DTST recently reported a quarterly loss of $0.53 per share, missing the $0.29 consensus estimate, while revenue of $0.36 million also fell short of the $0.40 million forecast.
- Analyst sentiment is negative: Weiss Ratings downgraded the stock to “sell,” and the overall consensus rating is “Reduce.” The shares have traded between $2.85 and $5.15 over the past year.
Data Storage Corp. (NASDAQ:DTST - Get Free Report) Director Clifford Stein sold 3,991 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 18,009 shares of the company's stock, valued at approximately $54,927.45. This trade represents a 18.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Data Storage Stock Up 1.7%
Shares of DTST opened at $3.04 on Friday. The company has a 50-day moving average price of $3.19 and a two-hundred day moving average price of $3.61. The stock 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 12 month low of $2.85 and a 12 month high of $5.15.
Data Storage (NASDAQ:DTST - Get Free Report) last issued its earnings results on Friday, August 14th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.40 million. Data Storage had a net margin of 1,247.09% and a negative return on equity of 5.48%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut Data Storage from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Reduce".
Read Our Latest Analysis on Data Storage
Institutional Trading of Data Storage
Several hedge funds have recently bought and sold shares of the stock. Alpine Global Management LLC acquired a new stake in shares of Data Storage during the fourth quarter worth $256,000. Renaissance Technologies LLC increased its holdings 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 in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Data Storage during the 3rd quarter worth about $186,000. Rothschild Wealth LLC acquired a new stake in shares of Data Storage in the 4th quarter valued at about $205,000. Finally, Yakira Capital Management Inc. acquired a new stake in shares of Data Storage in the 4th quarter valued at about $175,000. 11.56% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
