Data Storage (NASDAQ:DTST) Stock Price Down 1.1% – What’s Next?

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

Data Storage Price Performance

The company has a market cap of $23.72 million, a price-to-earnings ratio of 169.50 and a beta of 0.73. The firm’s 50 day simple moving average is $3.63 and its 200-day simple moving average is $4.99.

Data Storage (NASDAQ:DTST) last announced its 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 business had revenue of $4.91 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Perritt Capital Management Inc. raised its holdings in 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 purchasing an additional 19,247 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Data Storage during the first quarter worth about $206,000. Finally, Renaissance Technologies LLC raised its holdings in Data Storage by 79.8% during the second quarter. Renaissance Technologies LLC now owns 89,900 shares of the company’s stock worth $590,000 after purchasing an additional 39,900 shares in the last quarter. 11.56% of the stock is 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.