Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 73,636 shares, a decrease of 47.4% from the January 29th total of 140,028 shares. Based on an average daily volume of 191,555 shares, the short-interest ratio is presently 0.4 days. Approximately 2.3% of the shares of the stock are sold short. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 191,555 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.00.

Insider Activity at Sphere 3D

In other news, CEO Kurt L. Kalbfleisch sold 9,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $4.70, for a total value of $42,300.00. Following the sale, the chief executive officer directly owned 55,896 shares in the company, valued at $262,711.20. This represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sphere 3D

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd grew its holdings in shares of Sphere 3D by 51.7% during the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after purchasing an additional 24,424 shares during the period. BNP Paribas Financial Markets raised its holdings in Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after buying an additional 37,427 shares during the period. Jane Street Group LLC acquired a new position in Sphere 3D during the fourth quarter valued at approximately $37,000. Squarepoint Ops LLC purchased a new stake in Sphere 3D during the fourth quarter worth approximately $113,000. Finally, Armistice Capital LLC purchased a new stake in Sphere 3D during the fourth quarter worth approximately $465,000. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

Sphere 3D Stock Down 7.5%

Shares of ANY opened at $1.48 on Friday. Sphere 3D has a fifty-two week low of $1.08 and a fifty-two week high of $12.60. The company’s fifty day moving average is $2.53 and its two-hundred day moving average is $5.00. The firm has a market cap of $5.02 million, a PE ratio of -0.19 and a beta of 3.75.

Sphere 3D Company Profile

Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.

Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.