Data Storage Co. (NASDAQ:DTST) Short Interest Down 11.1% in July

Data Storage Co. (NASDAQ:DTST) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 546,000 shares, a decline of 11.1% from the July 15th total of 613,900 shares. Based on an average daily trading volume, of 117,100 shares, the short-interest ratio is presently 4.7 days. Currently, 13.6% of the shares of the company are short sold.

Data Storage Stock Performance

Shares of DTST stock opened at $4.01 on Monday. The company has a market capitalization of $27.95 million, a price-to-earnings ratio of 45.00 and a beta of 0.75. The company has a 50-day simple moving average of $5.78 and a 200 day simple moving average of $5.57. Data Storage has a 52 week low of $2.62 and a 52 week high of $8.00.

Data Storage (NASDAQ:DTST) last announced its earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.07). The company had revenue of $4.91 million for the quarter. Data Storage had a return on equity of 3.48% and a net margin of 2.61%.

Institutional Trading of Data Storage

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

Data Storage Company Profile

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.