Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Grows By 29.0%

Posted by Michael Baxter on Nov 30th, 2024

Sphere 3D Corp. (NASDAQ:ANY – Get Free Report) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 721,500 shares, an increase of 29.0% from the October 31st total of 559,500 shares. Approximately 3.6% of the company’s shares are short sold. Based on an average trading volume of 680,400 shares, the days-to-cover ratio is currently 1.1 days.

Sphere 3D Price Performance

Shares of NASDAQ:ANY traded up $0.09 during trading on Friday, reaching $1.47. 727,931 shares of the company were exchanged, compared to its average volume of 763,938. The business’s fifty day simple moving average is $1.13 and its 200-day simple moving average is $1.06. The firm has a market capitalization of $31.22 million, a PE ratio of -1.84 and a beta of 2.80. Sphere 3D has a 12-month low of $0.57 and a 12-month high of $4.09.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd purchased a new position in Sphere 3D Corp. (NASDAQ:ANY – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ANY. StockNews.com lowered Sphere 3D from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Sphere 3D in a report on Monday, November 18th.

Check Out Our Latest Stock Analysis on Sphere 3D

About Sphere 3D

(Get Free Report)

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.