Data Storage (NASDAQ:DTST) Issues Earnings Results

Data Storage (NASDAQ:DTST) posted its earnings results on Tuesday. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.58, reports. Data Storage had a net margin of 81.52% and a negative return on equity of 1.13%. The firm had revenue of $0.33 million during the quarter, compared to the consensus estimate of $0.40 million.

Data Storage Stock Up 0.6%

Shares of NASDAQ DTST opened at $4.25 on Tuesday. The company has a market cap of $30.83 million, a P/E ratio of 2.07 and a beta of 1.18. Data Storage has a 52 week low of $3.25 and a 52 week high of $5.44. The business has a 50-day simple moving average of $4.12 and a two-hundred day simple moving average of $4.36.

Hedge Funds Weigh In On Data Storage

Large investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its stake in Data Storage by 54.8% during the fourth quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after acquiring an additional 48,200 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new position in Data Storage in the 3rd quarter valued at $186,000. Rothschild Wealth LLC bought a new position in Data Storage in the 4th quarter valued at $205,000. Dimensional Fund Advisors LP grew its position in shares of Data Storage by 15.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after purchasing an additional 4,920 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Data Storage during the 4th quarter valued at $134,000. 11.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Data Storage from a “sell (d)” rating to a “hold (c)” rating in a report on Monday, April 6th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Data Storage

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.