MELVILLE, N.Y. - Data Storage Corporation (NASDAQ:DTST), a provider of business continuity solutions, announced today the appointment of Nancy M. Stallone, CPA, and Uwayne A. Mitchell, Esq., to its Board of Directors. Stallone will also join the Audit Committee, bringing her expertise in corporate finance, auditing, and accounting to the table.
The CEO of Data Storage Corporation, Chuck Piluso, expressed confidence in the new appointments, highlighting Stallone's background in finance and Mitchell's legal and cybersecurity experience as valuable assets for the company's strategic growth and international expansion plans.
Stallone currently serves as Corporate Treasurer and Assistant Corporate Secretary at Comtech Telecommunications (NASDAQ:CMTL) Corp. Her career includes significant financial leadership roles at Atkins Nutritionals, Inc., Techpack America, Inc., and over a decade at Deloitte & Touche LLP.
Mitchell brings a strong background in data privacy and technology law, currently serving as privacy counsel at Riskonnect Inc. His experience includes roles at GEICO and an early career stint as a computer technician at Data Storage Corporation, demonstrating a full-circle return to the company's board.
Data Storage Corporation's services encompass cloud infrastructure, disaster recovery, cybersecurity, and managed IT, supporting a wide client base including Fortune 500 companies. The company is focused on the expanding cloud infrastructure and cybersecurity markets.
This expansion of the board is part of Data Storage Corporation's commitment to uphold high corporate governance standards and drive business growth.
The company's statement is based on a press release.
InvestingPro Insights
Data Storage Corporation (NASDAQ:DTST) has recently made strategic moves in its board composition, which may be of interest to investors monitoring the company's governance and potential growth trajectory. In line with these developments, here are some insights from InvestingPro that could provide a deeper understanding of the company's financial health and market performance.
The company holds a notable position with more cash than debt on its balance sheet, indicating a strong liquidity position that could support its strategic growth and international expansion plans. Additionally, the recent stock performance shows a significant return over the last week, with a price total return of 13.62%, and an even more impressive year-to-date price total return of 85.42%. These metrics suggest a positive investor sentiment and a potentially favorable outlook for the company's stock.
However, it's important to note that the stock is currently in overbought territory according to the Relative Strength Index (RSI), which could signal a need for caution among investors considering entry points. Furthermore, with a market capitalization of 36.63 million USD and a high EBITDA valuation multiple, the company is trading at a premium compared to its earnings before interest, taxes, depreciation, and amortization.
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