Data Storage Corp. (NASDAQ:DTST) Sees Significant Growth in Short Interest

Data Storage Corp. (NASDAQ:DTST – Get Free Report) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totaling 44,847 shares, a growth of 1,177.3% from the September 15th total of 3,511 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily volume of 32,318 shares, the short-interest ratio is currently 1.4 days.

Data Storage Stock Down 0.2%

NASDAQ:DTST traded down $0.01 during trading hours on Friday, hitting $3.27. 6,232 shares of the company traded hands, compared to its average volume of 22,903. The company has a market cap of $7.66 million, a PE ratio of -4.31 and a beta of 1.19. The firm’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $3.49. Data Storage has a one year low of $2.75 and a one year high of $5.15.

Data Storage (NASDAQ:DTST – Get Free Report) last posted its earnings results 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 firm had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a negative return on equity of 5.48% and a net margin of 1,247.09%.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Data Storage stock. Yakira Capital Management Inc. acquired a new position in Data Storage Corp. (NASDAQ:DTST – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 34,116 shares of the company’s stock, valued at approximately $175,000. Yakira Capital Management Inc. owned approximately 0.47% of Data Storage as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 11.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered 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 Sell rating. Based on data from MarketBeat, Data Storage presently has an average rating of “Sell”.

Check Out Our Latest Analysis on Data Storage

Data Storage Company Profile

(Get Free Report)

Data Storage Corporation (NASDAQ: DTST) is a technology company that provides cloud-based data management, storage, and information technology services. Its offerings are designed to help organizations protect, access, and manage business-critical data while supporting operational continuity.

The company’s services include cloud hosting, data backup and recovery, disaster recovery, cybersecurity, managed information technology, and related business continuity solutions. Data Storage also supports electronic communications and document-management needs through cloud-based services, serving organizations that require secure and reliable access to their applications and information.

Data Storage serves businesses and other organizations, primarily in the United States.

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