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Thomas Kempster, Executive Vice President at Data Storage Corp (NASDAQ:DTST), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Kempster sold 2,333 shares of common stock on April 10, 2025, at an average price of $3.25 per share, totaling approximately $7,582. The stock currently trades at $3.65, with a market capitalization of $25 million. InvestingPro data shows the company maintains strong financial health with a current ratio of 4.35x, indicating robust liquidity.
In addition to the sale, Kempster also acquired 8,333 shares of common stock through the conversion of restricted stock units (RSUs) on the same day, although this transaction did not involve any cash exchange. Following these transactions, Kempster’s direct ownership stands at 839,112 shares. The company, which generated revenue of $25.4 million in the last twelve months, trades at a P/E ratio of 44.75x. Access detailed valuation metrics and 7 additional key insights with InvestingPro.
The RSUs, which convert to common stock on a one-for-one basis, were part of a grant that vests over a three-year period, contingent upon Kempster’s continued service with the company. The shares sold were used to satisfy tax withholding obligations.
In other recent news, Data Storage Corporation reported its Q4 2024 earnings, exceeding EPS expectations with an actual EPS of $0.04 compared to the forecasted $0.03. However, the company’s revenue did not meet expectations, coming in at $6.41 million against a forecast of $6.9 million. Despite this revenue shortfall, Data Storage Corporation saw a 2% increase in total revenue for the year, reaching $25.4 million, and a significant 71% increase in net income to $513,000. The company also reported strong growth in its cloud infrastructure and disaster recovery services, which saw a 27% year-over-year increase. Additionally, Data Storage Corporation expanded its operations internationally by launching services in the UK, a strategic move aimed at bolstering its global presence.
In terms of capital allocation, the company has focused on maintaining cost efficiency and has projected minimal additional capital expenditures for 2025. The company also announced a revised deadline for stockholder proposals and director nominations for its 2025 Annual Meeting of Stockholders. This adjustment was necessary due to the meeting date being more than 30 days after the previous year’s meeting anniversary. These developments reflect Data Storage Corporation’s ongoing efforts to strengthen its financial performance and strategic positioning in the market.
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