Data Storage (NASDAQ:DTST) CEO Charles Piluso Sells 32,610 Shares of Stock

Data Storage Corp. (NASDAQ:DTST) CEO Charles Piluso sold 32,610 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $3.82, for a total value of $124,570.20. Following the completion of the sale, the chief executive officer owned 223,074 shares of the company’s stock, valued at approximately $852,142.68. This trade represents a 12.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Data Storage Trading Up 1.9%

Shares of DTST stock opened at $3.84 on Wednesday. The stock has a market cap of $8.32 million, a P/E ratio of -11.64 and a beta of 1.15. The stock has a 50 day simple moving average of $4.00 and a 200 day simple moving average of $4.32. Data Storage Corp. has a 1 year low of $3.25 and a 1 year high of $5.44.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DTST. Zacks Investment Management acquired a new position in Data Storage during the fourth quarter valued at approximately $83,000. XTX Topco Ltd acquired a new position in Data Storage during the fourth quarter valued at approximately $134,000. FNY Investment Advisers LLC acquired a new position in Data Storage during the fourth quarter valued at approximately $137,000. Dimensional Fund Advisors LP raised 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 valued at $162,000 after purchasing an additional 4,920 shares in the last quarter. Finally, Yakira Capital Management Inc. acquired a new position in Data Storage during the fourth quarter valued at approximately $175,000. 11.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.