Data Storage Co. (NASDAQ:DTST) Sees Large Decline in Short Interest

Data Storage Co. (NASDAQ:DTST) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 349,000 shares, a decrease of 8.9% from the September 30th total of 382,900 shares. Based on an average trading volume of 58,400 shares, the days-to-cover ratio is currently 6.0 days. Approximately 8.7% of the company’s stock are sold short.

Hedge Funds Weigh In On Data Storage

Several hedge funds have recently made changes to their positions in DTST. Perritt Capital Management Inc. boosted its holdings in shares of Data Storage by 229.1% in the first quarter. Perritt Capital Management Inc. now owns 27,649 shares of the company’s stock valued at $158,000 after acquiring an additional 19,247 shares during the period. Acadian Asset Management LLC purchased a new stake in Data Storage in the 1st quarter valued at $206,000. Finally, Renaissance Technologies LLC boosted its stake in Data Storage by 79.8% during the 2nd quarter. Renaissance Technologies LLC now owns 89,900 shares of the company’s stock worth $590,000 after purchasing an additional 39,900 shares during the period. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Data Storage Stock Down 1.1 %

Shares of Data Storage stock opened at $3.44 on Friday. Data Storage has a 52 week low of $2.62 and a 52 week high of $8.00. The firm’s 50 day moving average is $3.64 and its two-hundred day moving average is $5.01. The firm has a market capitalization of $23.98 million, a P/E ratio of 38.22 and a beta of 0.73.

Data Storage (NASDAQ:DTST) last issued its earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.07). Data Storage had a net margin of 0.86% and a return on equity of 1.08%. The company had revenue of $4.91 million during the quarter.

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.