Sphere 3D (NASDAQ:ANY) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

Shares of Sphere 3D Corp. (NASDAQ:ANY) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $1.61 and traded as high as $1.9480. Sphere 3D shares last traded at $1.90, with a volume of 98,975 shares.

Wall Street Analyst Weigh In

ANY has been the topic of a number of research reports. Wall Street Zen raised shares of Sphere 3D to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sphere 3D in a research note on Monday, May 4th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Sphere 3D Stock Performance

The company’s 50 day moving average price is $1.61 and its 200 day moving average price is $2.62. The company has a market cap of $8.06 million, a price-to-earnings ratio of -0.55 and a beta of 3.60.

Sphere 3D (NASDAQ:ANY) last issued its earnings results on Friday, May 8th. The technology company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.46). Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%. The firm had revenue of $1.92 million during the quarter, compared to analyst estimates of $2.90 million.

Institutional Investors Weigh In On Sphere 3D

Several institutional investors and hedge funds have recently made changes to their positions in ANY. Armistice Capital LLC acquired a new stake in shares of Sphere 3D in the 4th quarter valued at $465,000. Squarepoint Ops LLC acquired a new stake in shares of Sphere 3D in the 4th quarter valued at $113,000. Jane Street Group LLC acquired a new stake in shares of Sphere 3D in the 4th quarter valued at $37,000. XTX Topco Ltd boosted its stake in shares of Sphere 3D by 678.6% in the 4th quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Sphere 3D by 294.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after purchasing an additional 37,427 shares in the last quarter. Institutional investors and hedge funds own 17.28% of the company’s stock.

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.