Thomas Kempster Sells 6,846 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) Director Thomas Kempster sold 6,846 shares of Data Storage stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $4.99, for a total value of $34,161.54. Following the transaction, the director owned 871,972 shares in the company, valued at approximately $4,351,140.28. The trade was a 0.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Data Storage Stock Down 0.6%

NASDAQ DTST traded down $0.03 on Friday, reaching $5.00. The stock had a trading volume of 140,685 shares, compared to its average volume of 128,132. The stock has a fifty day moving average price of $4.30 and a two-hundred day moving average price of $4.24. The firm has a market capitalization of $36.30 million, a price-to-earnings ratio of 2.34 and a beta of 1.13. Data Storage Corp. has a 12-month low of $2.93 and a 12-month high of $5.44.

Data Storage (NASDAQ:DTST) last posted its quarterly earnings results on Wednesday, November 19th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.16. Data Storage had a negative return on equity of 1.13% and a net margin of 81.52%.The company had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $0.40 million.

Analysts Set New Price Targets

Several research firms have issued reports on DTST. Maxim Group cut shares of Data Storage from a “buy” rating to a “hold” rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Data Storage from a “sell” rating to a “hold” rating in a research note on Friday, November 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Data Storage in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Data Storage

An institutional investor recently bought a new position in Data Storage stock. Elevation Point Wealth Partners LLC acquired a new position in shares of Data Storage Corp. (NASDAQ:DTST) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 43,100 shares of the company’s stock, valued at approximately $186,000. Elevation Point Wealth Partners LLC owned 0.59% of Data Storage as of its most recent SEC filing. Hedge funds and other institutional investors own 11.56% of the company’s stock.

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.