Data Storage Co. (NASDAQ:DTST) Short Interest Down 8.9% in October

Data Storage Co. (NASDAQ:DTST) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 349,000 shares, a decrease of 8.9% from the September 30th total of 382,900 shares. Currently, 8.7% of the company’s shares are short sold. Based on an average trading volume of 58,400 shares, the short-interest ratio is presently 6.0 days.

Hedge Funds Weigh In On Data Storage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Perritt Capital Management Inc. grew its position in shares of Data Storage by 229.1% during the first quarter. Perritt Capital Management Inc. now owns 27,649 shares of the company’s stock worth $158,000 after buying an additional 19,247 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Data Storage during the 1st quarter worth approximately $206,000. Finally, Renaissance Technologies LLC increased 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 valued at $590,000 after purchasing an additional 39,900 shares during the last quarter. Hedge funds and other institutional investors own 11.56% of the company’s stock.

Data Storage Price Performance

Shares of DTST stock opened at $3.44 on Friday. The company has a 50-day moving average of $3.64 and a two-hundred day moving average of $5.01. The firm has a market cap of $23.98 million, a PE ratio of 38.22 and a beta of 0.73. Data Storage has a 1-year low of $2.62 and a 1-year high of $8.00.

Data Storage (NASDAQ:DTST) last released 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 firm had revenue of $4.91 million for the quarter.

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.