Data Storage (NASDAQ:DTST) Trading Down 1.1% – Time to Sell?

Data Storage Co. (NASDAQ:DTST)’s stock price was down 1.1% during trading on Thursday . The company traded as low as $3.36 and last traded at $3.44. Approximately 17,543 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 101,756 shares. The stock had previously closed at $3.48.

Data Storage Trading Down 1.1 %

The stock’s fifty day moving average price is $3.64 and its 200 day moving average price is $5.01. The stock has a market cap of $23.98 million, a P/E ratio of 38.22 and a beta of 0.73.

Data Storage (NASDAQ:DTST) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). Data Storage had a return on equity of 1.08% and a net margin of 0.86%. The company had revenue of $4.91 million during the quarter.

Hedge Funds Weigh In On Data Storage

Several institutional investors and hedge funds have recently made changes to their positions in the business. Perritt Capital Management Inc. boosted its position in Data Storage by 229.1% during the 1st quarter. Perritt Capital Management Inc. now owns 27,649 shares of the company’s stock valued at $158,000 after buying an additional 19,247 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Data Storage in the 1st quarter worth about $206,000. Finally, Renaissance Technologies LLC lifted its position in shares of Data Storage by 79.8% in the 2nd quarter. Renaissance Technologies LLC now owns 89,900 shares of the company’s stock worth $590,000 after purchasing an additional 39,900 shares during the period. 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.