Sphere 3D Corp. (NASDAQ:ANY) Short Interest Update

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 523,900 shares, a decline of 31.5% from the December 15th total of 765,100 shares. Based on an average daily volume of 902,200 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.2% of the company’s shares are short sold.

Insider Activity at Sphere 3D

In other news, CEO Patricia Trompeter sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $1.31, for a total value of $26,200.00. Following the sale, the chief executive officer now directly owns 597,187 shares in the company, valued at $782,314.97. The trade was a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 36,000 shares of company stock worth $46,760. 5.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd purchased a new position in shares of 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 0.28% of Sphere 3D as of its most recent filing with the Securities & Exchange Commission. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

Sphere 3D Stock Up 6.0 %

NASDAQ:ANY opened at $1.06 on Thursday. The stock’s 50-day simple moving average is $1.23 and its 200 day simple moving average is $1.06. Sphere 3D has a 52-week low of $0.67 and a 52-week high of $2.73.

Wall Street Analyst Weigh In

ANY has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Sphere 3D in a research note on Monday, November 18th. StockNews.com downgraded shares of Sphere 3D from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th.

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.