Sphere 3D (NASDAQ:ANY) Rating Increased to Hold at StockNews.com

Sphere 3D (NASDAQ:ANY) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Sphere 3D in a research report on Monday, November 18th.

Sphere 3D Price Performance

NASDAQ ANY traded down $0.04 on Wednesday, hitting $0.98. The company had a trading volume of 980,144 shares, compared to its average volume of 803,280. The company’s fifty day moving average price is $1.20 and its 200-day moving average price is $1.06. The company has a market capitalization of $24.94 million, a PE ratio of -1.22 and a beta of 2.99. Sphere 3D has a 12-month low of $0.67 and a 12-month high of $2.73.

Insiders Place Their Bets

In other news, CEO Patricia Trompeter sold 20,000 shares of the stock in a transaction on 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 approximately $782,314.97. This trade represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 36,000 shares of company stock worth $46,760 over the last three months. Company insiders own 5.59% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd bought a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D as of its most recent SEC filing. Institutional investors and hedge funds own 17.28% of the company’s stock.

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.