Sphere 3D (NASDAQ:ANY) Cut to Sell at StockNews.com

Sphere 3D (NASDAQ:ANY) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Separately, HC Wainwright dropped their target price on Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, August 19th.

Sphere 3D Stock Performance

NASDAQ ANY traded up $0.13 during trading hours on Tuesday, hitting $1.75. The company had a trading volume of 2,504,419 shares, compared to its average volume of 738,544. The business has a 50 day moving average of $0.96 and a 200-day moving average of $1.02. The company has a market cap of $36.30 million, a PE ratio of -1.34 and a beta of 2.80. Sphere 3D has a 1-year low of $0.57 and a 1-year high of $4.09.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. Sphere 3D had a negative net margin of 69.64% and a negative return on equity of 67.44%. The firm had revenue of $4.67 million during the quarter, compared to analyst estimates of $5.30 million. Sell-side analysts expect that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd purchased a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned approximately 0.28% of Sphere 3D as of its most recent SEC filing. Hedge funds and other institutional investors own 17.28% of the company’s stock.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.