Charles Piluso Sells 12,555 Shares of Data Storage (NASDAQ:DTST) Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 12,555 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $3.91, for a total transaction of $49,090.05. Following the completion of the sale, the chief executive officer directly owned 297,477 shares in the company, valued at $1,163,135.07. This trade represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Stock Performance

Data Storage stock opened at $3.78 on Thursday. The company’s 50 day simple moving average is $4.00 and its 200-day simple moving average is $4.32. The company has a market capitalization of $8.20 million, a price-to-earnings ratio of -11.45 and a beta of 1.15. Data Storage Corp. has a 1 year low of $3.25 and a 1 year high of $5.44.

Data Storage (NASDAQ:DTST) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.40 million. Data Storage had a net margin of 81.52% and a negative return on equity of 3.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Data Storage from a “sell (d)” rating to a “hold (c)” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Data Storage

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC grew its position in Data Storage by 54.8% in the 4th quarter. Renaissance Technologies LLC now owns 136,100 shares of the company’s stock valued at $697,000 after acquiring an additional 48,200 shares in the last quarter. Alpine Global Management LLC acquired a new position in Data Storage in the 4th quarter valued at about $256,000. Elevation Point Wealth Partners LLC acquired a new position in Data Storage in the 3rd quarter valued at about $186,000. Rothschild Wealth LLC acquired a new position in Data Storage in the 4th quarter valued at about $205,000. Finally, Dimensional Fund Advisors LP grew its position in Data Storage by 15.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 37,574 shares of the company’s stock valued at $162,000 after acquiring an additional 4,920 shares in the last quarter. 11.56% of the stock is owned by institutional investors and hedge funds.

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.