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Harold J. Schwartz, President of Data Storage Corp (NASDAQ:DTST), recently sold 2,333 shares of the company’s common stock, generating proceeds of $7,582. The shares were sold at a price of $3.25 each, below the current trading price of $3.65 and the stock’s 52-week high of $8.00. The transaction, dated April 10, 2025, was part of a series of trades reported in a Form 4 filing with the Securities and Exchange Commission. Following this sale, Schwartz’s direct ownership of the company’s stock stands at 869,847 shares in this $25 million market cap company. According to InvestingPro analysis, DTST maintains strong liquidity with a current ratio of 4.35x and holds more cash than debt on its balance sheet.
The filing also noted that Schwartz acquired 8,333 shares through the conversion of restricted stock units (RSUs), which convert to common stock on a one-for-one basis. However, this transaction did not involve any cash exchange. The RSUs were part of a grant that began vesting in 2024 and will continue over a three-year period, contingent on Schwartz’s ongoing service to the company. With the next earnings report due on May 19, 2025, InvestingPro subscribers can access 6 additional key insights about DTST’s valuation and financial health, along with comprehensive research reports available for over 1,400 US stocks.
In other recent news, Data Storage Corporation reported its Q4 2024 earnings, surpassing expectations with an EPS of $0.04, compared to the forecast of $0.03. However, the company’s revenue fell short, recording $6.41 million against the anticipated $6.9 million. Despite the mixed financial results, the company experienced a 2% revenue increase from the previous year, totaling $25.4 million. Net income saw a significant rise of 71% to $513,000, driven by a 27% year-over-year growth in cloud infrastructure and disaster recovery services. Additionally, Data Storage Corporation expanded its global presence by launching operations in the UK, a strategic move expected to contribute to its future growth. The company has also announced a revised deadline for stockholder proposals and director nominations for its 2025 Annual Meeting of Stockholders. This adjustment follows the acknowledgment that the meeting date is set more than 30 days after the previous year’s meeting anniversary. These developments reflect Data Storage Corporation’s ongoing efforts to enhance its financial performance and strategic positioning.
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