Sphere 3D (NASDAQ:ANY) Share Price Passes Above Fifty Day Moving Average of $1.10

Sphere 3D Corp. (NASDAQ:ANY) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.10 and traded as high as $1.19. Sphere 3D shares last traded at $1.12, with a volume of 1,272,529 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ANY shares. HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Sphere 3D in a research report on Thursday, May 16th. StockNews.com cut shares of Sphere 3D from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th.

Sphere 3D Stock Performance

The firm has a market capitalization of $20.51 million, a P/E ratio of -0.61 and a beta of 2.77. The business has a 50 day simple moving average of $1.11 and a two-hundred day simple moving average of $1.67.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Monday, May 13th. The technology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. The business had revenue of $6.95 million during the quarter, compared to analysts’ expectations of $8.30 million. Sphere 3D had a negative net margin of 94.39% and a negative return on equity of 72.59%. On average, equities analysts anticipate that Sphere 3D Corp. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Patricia Trompeter sold 150,000 shares of the business’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 value of $171,000.00. Following the completion of the sale, the chief executive officer now directly owns 549,687 shares in the company, valued at approximately $626,643.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sphere 3D news, CFO Kurt L. Kalbfleisch sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $1.17, for a total value of $93,600.00. Following the completion of the sale, the chief financial officer now owns 124,189 shares in the company, valued at $145,301.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patricia Trompeter sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 owns 549,687 shares in the company, valued at approximately $626,643.18. The disclosure for this sale can be found here. Corporate insiders own 5.59% of the company’s stock.

Institutional Investors Weigh In On Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. Crescent Grove Advisors LLC purchased a new position in Sphere 3D Corp. (NASDAQ:ANY) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned 0.10% of Sphere 3D as of its most recent SEC filing. Hedge funds and other institutional investors 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.