Data Storage Corp Stock Price, News & Analysis

Data Storage Corporation (Nasdaq: DTST) has announced a strategic partnership with Precisely to enhance IT security within its cloud infrastructure. This collaboration will provide innovative security software solutions, addressing critical needs such as data integrity, privacy, and compliance for businesses transitioning to the cloud. The Company's ezSecurity™ offering includes a no-cost security risk assessment, aimed at identifying and mitigating potential IT security threats, including ransomware. This partnership leverages Data Storage’s extensive experience in IBM power systems and cloud solutions.

Data Storage Corporation (Nasdaq: DTST) has reported a remarkable 76% increase in revenue for Q2 2021, totaling $3.5 million, up from $2.0 million in Q2 2020. This growth is attributed to strong sales across all product lines, particularly Managed Services (+269%) and Equipment and Software (+208%). The company benefited from the recent merger with Flagship Solutions, which occurred on May 31, 2021, and includes one month of Flagship's results. Following the acquisition, the firm has a solid cash position of approximately $3.1 million and plans to focus on key verticals to boost growth.

Data Storage Corporation (Nasdaq: DTST, DTSTW) will host a conference call on August 16, 2021, at 11:00 am EDT to discuss its Q2 financial results for the period ending June 30, 2021. Interested parties can access the call by dialing 888-506-0062 for U.S. participants, or +1 973-528-0011 for international callers. The call will also be available via webcast on the company's Investor Relations page. A replay will be accessible on the website until August 16, 2022, with a telephone replay available until August 30, 2021.

Data Storage Corporation (Nasdaq: DTST, DTSTW) has announced a securities purchase agreement to raise approximately $8.3 million through a registered direct offering and a concurrent private placement. The company will sell 1,375,000 shares of common stock at a price of $6.04 per share, along with warrants for 1,031,250 shares. The offering is set to close on or about July 21, 2021, subject to customary conditions. Maxim Group LLC is the placement agent, and the proceeds will support their business continuity and cloud infrastructure solutions.

Data Storage Corporation (Nasdaq: DTST) announced receiving approximately $2.1 million from the voluntary exercise of warrants linked to its May 2021 financing. CEO Chuck Piluso highlighted that this influx strengthens the company's balance sheet and continues to support positive cash flow. He emphasized the opportunity for significant shareholder value due to the migration to IBM cloud services and an increased focus on cybersecurity. The company remains committed to delivering IT solutions, including Infrastructure as a Service and disaster recovery.

Data Storage Corporation (Nasdaq: DTST) announced that CEO Charles M. Piluso will present at the Access to Giving Virtual Conference from July 13-15, 2021. The presentation is scheduled for July 14, 2021, at 10:30 a.m. ET. Participants can access the live presentation through the provided link. The conference aims to connect companies with qualified investors for charity, with all fundraising directed towards financial literacy initiatives. For more details about the event or to arrange meetings, visit the Access to Giving website.

Data Storage Corporation (Nasdaq: DTST) has successfully merged with Flagship Solutions, LLC, enhancing its service offerings in cloud solutions and IT management. The merger positions DSC as a comprehensive provider of multi-cloud IT solutions, capitalizing on the ongoing transition of customers to the IBM cloud. Flagship's CEO Mark Wyllie will continue to lead the merged entity and join DSC's Board. The merger is seen as highly synergistic, with expected growth acceleration as the IBM cloud market expands.

Data Storage Corporation (Nasdaq: DTST) announced its participation in the Summer Solstice Conference, hosted by The MicroCap Rodeo, from June 1-4, 2021. Chuck Piluso, CEO, is scheduled to present on June 1 at 5:00 PM ET and will engage in one-on-one meetings with investors during the event. The presentation will be webcast live and available for replay. The conference focuses on presenting top investment ideas to qualified institutional investors, featuring 25 companies recommended by buy-side professionals.

Data Storage Corporation (Nasdaq: DTST) has appointed Chris Panagiotakos as the new Chief Financial Officer, bringing over 23 years of public company accounting experience. Previously, Panagiotakos served as Vice President and Corporate Controller at Cinedigm Corp. His expertise in accounting and compliance will support DSC's efforts to boost organic growth and integrate operations post their recent public offering and Nasdaq uplisting. CEO Chuck Piluso expressed confidence in Panagiotakos’ ability to contribute significantly to establishing DSC as a leader in the expanding IBM Power markets.