Short Interest in Data Storage Co. (NASDAQ:DTST) Increases By 183.0%

Data Storage Co. (NASDAQ:DTST) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 256,400 shares, a growth of 183.0% from the February 29th total of 90,600 shares. Based on an average daily volume of 114,100 shares, the short-interest ratio is presently 2.2 days. Currently, 6.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Data Storage

A number of institutional investors have recently modified their holdings of DTST. Vanguard Group Inc. grew its position in shares of Data Storage by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 63,951 shares of the company’s stock valued at $207,000 after acquiring an additional 6,992 shares during the period. Jane Street Group LLC acquired a new stake in shares of Data Storage during the 1st quarter valued at about $46,000. Millennium Management LLC purchased a new position in Data Storage in the 2nd quarter valued at about $84,000. Renaissance Technologies LLC purchased a new position in Data Storage in the 2nd quarter valued at about $117,000. Finally, Citadel Advisors LLC purchased a new position in Data Storage in the 4th quarter valued at about $81,000. 11.56% of the stock is currently owned by institutional investors and hedge funds.

Data Storage Stock Performance

DTST traded down $1.95 during midday trading on Thursday, hitting $5.69. 707,520 shares of the company were exchanged, compared to its average volume of 133,143. Data Storage has a 1-year low of $1.60 and a 1-year high of $7.65. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $39.03 million, a price-to-earnings ratio of -16.60 and a beta of 0.43. The company’s 50 day simple moving average is $4.64 and its 200 day simple moving average is $3.65.

About Data Storage

Data Storage Corporation provides multi-cloud information technology solutions primarily in the United States. The company offers data protection and disaster recovery solutions; high availability, data vaulting, retention, Infrastructure as a Service, standby server, support and maintenance, and internet solutions.