Sphere 3D (NASDAQ:ANY) Share Price Crosses Below 200 Day Moving Average of $1.20

Shares of Sphere 3D Corp. (NASDAQ:ANY) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.20 and traded as low as $0.69. Sphere 3D shares last traded at $0.71, with a volume of 337,864 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Sphere 3D from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. HC Wainwright lowered their price target on Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, August 19th.

Sphere 3D Stock Performance

The stock’s 50-day moving average is $0.98 and its 200 day moving average is $1.19. The firm has a market cap of $13.01 million, a P/E ratio of -0.38 and a beta of 2.81.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. The company had revenue of $4.67 million for the quarter, compared to analyst estimates of $5.30 million. On average, research analysts anticipate that Sphere 3D Corp. will post -0.7 EPS for the current year.

Insider Activity at Sphere 3D

In other news, CEO Patricia Trompeter sold 150,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $1.14, for a total transaction of $171,000.00. Following the completion of the transaction, the chief executive officer now directly owns 549,687 shares of the company’s stock, valued at $626,643.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Sphere 3D news, CFO Kurt L. Kalbfleisch sold 80,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $1.17, for a total transaction of $93,600.00. Following the sale, the chief financial officer now directly owns 124,189 shares of the company’s stock, valued at approximately $145,301.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Patricia Trompeter sold 150,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $1.14, for a total transaction of $171,000.00. Following the transaction, the chief executive officer now owns 549,687 shares of the company’s stock, valued at $626,643.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 241,000 shares of company stock valued at $275,050. 5.59% of the stock is owned by corporate insiders.

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 Sphere 3D Corp. (NASDAQ:ANY) in the second quarter, according to the company in its most recent 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 about 0.28% of Sphere 3D at the end of the most recent reporting period. Institutional investors and hedge funds own 17.28% of the company’s stock.

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.