Data Storage (NASDAQ:DTST) Director Thomas Kempster Sells 3,500 Shares

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 transaction of $10,220.00. Following the transaction, the director directly owned 18,500 shares in the company, valued at $54,020. The trade was a 15.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 traded down $0.11 during trading hours on Monday, reaching $2.93. 8,588 shares of the company’s stock were exchanged, compared to its average volume of 11,898. Data Storage Corp. has a 52-week low of $2.85 and a 52-week high of $5.15. The firm has a market capitalization of $6.86 million, a price-to-earnings ratio of -3.86 and a beta of 1.15. The company has a fifty day moving average of $3.18 and a 200-day moving average of $3.60.

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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 (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The business had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.40 million. Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.

Institutional Investors Weigh In On Data Storage

An institutional investor recently bought a new stake in Data Storage stock. Alpine Global Management LLC bought a new position in shares of Data Storage Corp. (NASDAQ:DTST – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing 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 approximately 0.69% of Data Storage as of its most recent filing with the Securities and Exchange Commission. 11.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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Data Storage Company Profile

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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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