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Data Storage Corporation (NASDAQ:DTST), a provider of cloud-based technology solutions with a market capitalization of $22 million and annual revenue of $25.4 million, has announced a revised deadline for stockholder proposals and director nominations for its upcoming 2025 Annual Meeting of Stockholders. According to InvestingPro data, the company maintains strong financial health with a current ratio of 4.35 and holds more cash than debt on its balance sheet. The meeting is scheduled for July 31, 2025, with a record date of June 3, 2025, to determine eligible voting stockholders.
Stockholder proposals for inclusion in the company's proxy materials must be received by May 2, 2025. This new deadline is in accordance with Rule 14a-8 under the Securities Exchange Act of 1934. The timing of these proposals comes as the company's stock trades near its 52-week low of $3.08, having declined over 43% in the past year. Proposals must comply with the rule's requirements and be submitted with all necessary documentation by the specified date.
Additionally, stockholders intending to present director nominations or other proposals at the meeting, which are not to be included in the proxy materials, must also submit these by May 2, 2025. The company has determined this date to be reasonable for its printing and mailing schedule for proxy materials.
In line with the universal proxy rules, stockholders aiming to solicit proxies for director nominees other than the company's nominees must provide the required notice under Rule 14a-19 by June 1, 2025, which is 60 days prior to the meeting date.
This announcement comes after the company acknowledged that the 2025 Annual Meeting date is more than 30 days after the anniversary of the previous year's meeting, necessitating the adjustment of proposal submission deadlines.
The information is based on a recent SEC filing by Data Storage Corporation. For investors seeking deeper insights, InvestingPro offers comprehensive analysis with 10+ additional ProTips and a detailed Pro Research Report, available as part of the platform's coverage of 1,400+ US stocks. The platform's analysis suggests the stock may be undervalued at current levels, presenting a potential opportunity for value investors.
In other recent news, Data Storage Corporation reported its Q4 2024 earnings, revealing a mixed performance. The company exceeded earnings per share (EPS) expectations with an actual EPS of $0.04, surpassing the forecast of $0.03. However, revenue fell short, coming in at $6.41 million compared to the anticipated $6.9 million. Despite this revenue miss, the company experienced a 2% increase in total revenue for the year, reaching $25.4 million. Net income saw a significant rise of 71% to $513,000, largely driven by strong growth in cloud infrastructure and disaster recovery services, which grew by 27% year-over-year.
Additionally, Data Storage Corporation expanded its international presence by launching operations in the UK, marking a strategic move to enhance its global footprint. In another development, the company recently merged Flagship and Cloud First, aiming to consolidate capabilities and improve market reach. Analyst firm Maxim noted the company's frustration with its stock price, despite its financial progress. Overall, these developments reflect Data Storage Corporation's ongoing efforts to balance growth and profitability while expanding its market presence.
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