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

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

Data Storage Stock Down 1.1 %

The firm’s 50-day moving average price is $3.64 and its 200 day moving average price is $5.01. The company has a market capitalization of $23.98 million, a P/E ratio of 38.22 and a beta of 0.73.

Data Storage (NASDAQ:DTST) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate 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.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Perritt Capital Management Inc. lifted its stake in shares of 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Data Storage during the 1st quarter valued at approximately $206,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Data Storage by 79.8% during the 2nd quarter. Renaissance Technologies LLC now owns 89,900 shares of the company’s stock valued at $590,000 after buying an additional 39,900 shares in the last quarter. 11.56% of the stock is currently owned by hedge funds and other institutional investors.

Data Storage Company Profile

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.