Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Increases By 115.8%

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 559,500 shares, an increase of 115.8% from the October 15th total of 259,300 shares. Based on an average daily trading volume, of 504,400 shares, the days-to-cover ratio is currently 1.1 days. Approximately 2.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ANY shares. HC Wainwright decreased their price objective on shares of Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 19th. StockNews.com downgraded shares of Sphere 3D from a “hold” rating to a “sell” rating in a research report on Tuesday.

Sphere 3D Stock Performance

ANY traded up $0.04 during mid-day trading on Friday, reaching $1.49. 875,099 shares of the stock were exchanged, compared to its average volume of 748,016. The stock has a market capitalization of $30.90 million, a PE ratio of -1.18 and a beta of 2.80. Sphere 3D has a 1 year low of $0.57 and a 1 year high of $4.09. The company has a 50 day moving average price of $1.01 and a two-hundred day moving average price of $1.03.

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

Institutional Trading of Sphere 3D

A hedge fund recently bought a new stake 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 13F filing with the Securities & Exchange Commission. The firm 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. 17.28% of the stock is owned by institutional investors and hedge funds.

Sphere 3D Company Profile

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.