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

Data Storage Co. (NASDAQ:DTST) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 350,200 shares, a growth of 9.3% from the November 30th total of 320,500 shares. Based on an average daily volume of 62,100 shares, the short-interest ratio is presently 5.6 days. Approximately 8.8% of the company’s shares are short sold.

Institutional Trading of Data Storage

A number of institutional investors have recently added to or reduced their stakes in DTST. XTX Topco Ltd acquired a new position in shares of Data Storage during the third quarter worth about $46,000. Hilltop Holdings Inc. acquired a new position in Data Storage during the 3rd quarter worth approximately $73,000. Finally, Renaissance Technologies LLC lifted its position 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 acquiring an additional 39,900 shares in the last quarter. 11.56% of the stock is owned by hedge funds and other institutional investors.

Data Storage Price Performance

DTST stock traded up $0.07 during midday trading on Tuesday, reaching $4.25. 16,774 shares of the company’s stock traded hands, compared to its average volume of 98,394. Data Storage has a fifty-two week low of $2.75 and a fifty-two week high of $8.00. The business has a 50-day moving average price of $4.08 and a two-hundred day moving average price of $4.49. The company has a market capitalization of $29.81 million, a P/E ratio of 212.50 and a beta of 0.78.

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.