Data Storage (NASDAQ:DTST) Posts Quarterly Earnings Results, Beats Expectations By $0.58 EPS

Data Storage (NASDAQ:DTST) issued its quarterly earnings data on Tuesday. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.58, reports. Data Storage had a negative return on equity of 1.13% and a net margin of 81.52%.The company had revenue of $0.33 million for the quarter, compared to analysts’ expectations of $0.40 million.

Data Storage Stock Up 5.5%

Shares of Data Storage stock opened at $4.22 on Tuesday. The stock’s fifty day moving average is $4.12 and its 200-day moving average is $4.36. The firm has a market capitalization of $30.65 million, a PE ratio of 1.97 and a beta of 1.18. Data Storage has a 12-month low of $3.25 and a 12-month high of $5.44.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Data Storage from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Data Storage presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Zacks Investment Management acquired a new stake in Data Storage in the fourth quarter valued at approximately $83,000. XTX Topco Ltd bought a new stake in shares of Data Storage in the fourth quarter valued at approximately $134,000. Dimensional Fund Advisors LP grew its position in Data Storage by 15.1% during the third quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock worth $162,000 after buying an additional 4,920 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Data Storage during the 3rd quarter worth approximately $186,000. Finally, Rothschild Wealth LLC bought a new stake in Data Storage in the 4th quarter valued at $205,000. Institutional investors and hedge funds 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. The company also provides data protection and recovery solutions, such as ezVault for offsite data protection; ezRecovery for fast data recovery; ezAvailability for real-time data replication with minimal recovery objectives; and ezMirror for data mirroring at the storage level.