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

Sphere 3D Corp. (NASDAQ:ANY) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 822,100 shares, an increase of 38.1% from the August 15th total of 595,100 shares. Based on an average daily volume of 542,700 shares, the short-interest ratio is presently 1.5 days. Currently, 4.2% of the company’s stock are sold short.

Institutional Trading of Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd acquired a new position in Sphere 3D Corp. (NASDAQ:ANY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Sphere 3D Stock Up 4.8 %

Sphere 3D stock traded up $0.04 during midday trading on Friday, hitting $0.88. 275,712 shares of the stock were exchanged, compared to its average volume of 341,621. Sphere 3D has a 52-week low of $0.57 and a 52-week high of $4.09. The stock has a market capitalization of $18.25 million, a price-to-earnings ratio of -0.48 and a beta of 2.81. The business’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.14.

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

Analyst Upgrades and Downgrades

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

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.