Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Decreases By 70.0%

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 44,552 shares, a decline of 70.0% from the May 14th total of 148,645 shares. Approximately 1.1% of the company’s stock are sold short. Based on an average trading volume of 178,246 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sphere 3D in a research note on Monday, May 4th. Wall Street Zen raised Sphere 3D to a “sell” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Sphere 3D Trading Up 7.1%

ANY stock traded up $0.20 during trading on Thursday, reaching $3.06. 87,948 shares of the stock were exchanged, compared to its average volume of 1,961,749. The firm has a market cap of $13.00 million, a P/E ratio of -0.88 and a beta of 3.63. The firm’s 50 day moving average is $2.03 and its 200 day moving average is $2.51. Sphere 3D has a twelve month low of $1.08 and a twelve month high of $12.60.

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

Institutional Investors Weigh In On Sphere 3D

Several large investors have recently added to or reduced their stakes in ANY. XTX Topco Ltd raised its stake in Sphere 3D by 51.7% in the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after acquiring an additional 24,424 shares during the period. BNP Paribas Financial Markets boosted its position in Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after purchasing an additional 37,427 shares during the period. Jane Street Group LLC purchased a new position in shares of Sphere 3D in the fourth quarter worth about $37,000. Squarepoint Ops LLC purchased a new position in shares of Sphere 3D in the fourth quarter worth about $113,000. Finally, Armistice Capital LLC bought a new stake in shares of Sphere 3D in the fourth quarter valued at approximately $465,000. Hedge funds and other institutional investors 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.