StockNews.com Downgrades Sphere 3D (NASDAQ:ANY) to Sell

StockNews.com downgraded shares of Sphere 3D (NASDAQ:ANY) from a hold rating to a sell rating in a report issued on Tuesday.

Separately, HC Wainwright cut their price objective on Sphere 3D from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, August 19th.

Sphere 3D Trading Up 2.8 %

ANY stock opened at $1.49 on Tuesday. The stock’s fifty day simple moving average is $1.01 and its two-hundred day simple moving average is $1.03. Sphere 3D has a 1-year low of $0.57 and a 1-year high of $4.09. The stock has a market cap of $30.90 million, a P/E ratio of -1.18 and a beta of 2.80.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data 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 return on equity of 67.44% and a negative net margin of 69.64%. The business had revenue of $4.67 million for the quarter, compared to analysts’ expectations of $5.30 million. As a group, analysts forecast that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

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 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 SEC. 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.