Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,080,000 shares, a drop of 11.5% from the June 30th total of 1,220,000 shares. Based on an average trading volume of 663,200 shares, the days-to-cover ratio is currently 1.6 days. Currently, 6.3% of the company’s shares are sold short.

Insider Activity at Sphere 3D

In related news, CEO Patricia Trompeter sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $1.14, for a total transaction of $171,000.00. Following the sale, the chief executive officer now directly owns 549,687 shares of the company’s stock, valued at approximately $626,643.18. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Kurt L. Kalbfleisch sold 80,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $1.17, for a total value of $93,600.00. Following the transaction, the chief financial officer now owns 124,189 shares in the company, valued at approximately $145,301.13. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Patricia Trompeter sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $1.14, for a total value of $171,000.00. Following the sale, the chief executive officer now directly owns 549,687 shares in the company, valued at approximately $626,643.18. The disclosure for this sale can be found here. 5.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Crescent Grove Advisors LLC purchased a new stake in Sphere 3D Corp. (NASDAQ:ANY) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned approximately 0.10% of Sphere 3D at the end of the most recent quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Sphere 3D Price Performance

Sphere 3D stock traded up $0.01 during mid-day trading on Wednesday, hitting $1.03. 108,841 shares of the company were exchanged, compared to its average volume of 847,574. Sphere 3D has a 12-month low of $0.57 and a 12-month high of $4.09. The company has a market capitalization of $18.86 million, a P/E ratio of -0.55 and a beta of 2.84. The business’s 50 day simple moving average is $1.12 and its two-hundred day simple moving average is $1.43.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Monday, May 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.09. Sphere 3D had a negative net margin of 94.39% and a negative return on equity of 72.59%. The business had revenue of $6.95 million for the quarter, compared to the consensus estimate of $8.30 million. Equities research analysts predict that Sphere 3D will post -0.83 earnings per share for the current year.

Analyst Ratings Changes

ANY has been the subject of a number of recent research reports. StockNews.com cut shares of Sphere 3D from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Sphere 3D in a report on Thursday, May 16th.

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.