Key Points
- Director Thomas Kempster sold 3,500 Data Storage shares at an average price of $2.92, generating $10,220. The sale was made to cover tax withholding tied to vested equity awards, leaving him with 18,500 shares.
- Data Storage shares opened at $2.93 and remain near their 12-month low of $2.85. The company’s latest quarterly results missed expectations, with a $0.53 loss per share and $0.36 million in revenue.
- Analyst sentiment is negative: Weiss Ratings downgraded the stock to “sell,” while the broader consensus rating is “Reduce.” Institutional investors own 11.56% of the company, including a new 50,000-share position held by Alpine Global Management.
Data Storage Corp. (NASDAQ:DTST - Get Free Report) Director Thomas Kempster sold 3,500 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $2.92, for a total value of $10,220.00. Following the completion of the transaction, the director directly owned 18,500 shares of the company's stock, valued at approximately $54,020. This represents a 15.91% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Trading Down 3.6%
Shares of Data Storage stock opened at $2.93 on Tuesday. The business's fifty day simple moving average is $3.18 and its 200 day simple moving average is $3.60. The firm has a market capitalization of $6.86 million, a P/E ratio of -3.86 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 announced its quarterly earnings data on Friday, August 14th. The company reported ($0.53) earnings per share (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 business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.40 million.
Institutional Trading of Data Storage
A hedge fund recently bought a new position in Data Storage stock. Alpine Global Management LLC bought a new stake in Data Storage Corp. (NASDAQ:DTST - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 50,000 shares of the company's stock, valued at approximately $256,000. Alpine Global Management LLC owned 0.69% of Data Storage at the end of the most recent reporting period. Institutional investors own 11.56% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings cut shares of Data Storage from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, September 3rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce".
Read Our Latest Analysis on Data Storage
Data Storage Company Profile
(
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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