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Data Storage Corp (NASDAQ:DTST), a $25.7 million market cap company with strong liquidity metrics, saw its Chief Financial Officer Christos Panagiotakos recently sell a portion of his holdings. According to a recent SEC filing, Panagiotakos sold 2,003 shares of common stock on March 28, 2025. InvestingPro analysis indicates the company maintains robust financial health, with more cash than debt on its balance sheet. The shares were sold at a weighted average price of $3.61, with transaction prices ranging from $3.50 to $3.68. The total value of the transaction amounted to $7,230.
This sale was conducted to satisfy tax withholding obligations, as noted in the filing. Following the transaction, Panagiotakos retained ownership of 35,529 shares in Data Storage Corp.
In other recent news, Data Storage Corporation reported its Q4 2024 earnings, surpassing earnings per share (EPS) expectations with an actual EPS of $0.04, compared to the forecasted $0.03. Despite this positive outcome, the company’s revenue fell short of expectations, posting $6.41 million against the anticipated $6.9 million. The company also announced a 2% increase in total revenue for the year, reaching $25.4 million, with a significant 71% rise in net income to $513,000. Data Storage’s cloud infrastructure and disaster recovery services showed strong growth, contributing $12.3 million, which is a 27% year-over-year increase. In a strategic move, the company expanded its operations internationally by launching in the UK, aiming to break even in this market by January 2026. Additionally, Data Storage recently merged with Flagship, enhancing its technical capabilities and market reach. During the earnings call, analysts from Maxim expressed interest in the company’s spending plans for 2025, and management indicated a focus on maintaining cost efficiency. CEO Chuck Palusto highlighted the company’s achievements in growing its recurring cloud business and expanding internationally, underscoring the company’s strategic initiatives.
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