Zacks Investment Research upgraded shares of Sphere 3D Corp. (NASDAQ:ANY) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “

Separately, ValuEngine raised Sphere 3D Corp. from a sell rating to a hold rating in a research report on Thursday, July 13th.

Shares of Sphere 3D Corp. (NASDAQ ANY) opened at 4.20 on Monday. The firm’s 50-day moving average price is $4.33 and its 200-day moving average price is $5.12. The company’s market cap is $18.34 million. Sphere 3D Corp. has a 12 month low of $2.44 and a 12 month high of $23.00.

Sphere 3D Corp. (NASDAQ:ANY) last issued its quarterly earnings results on Monday, August 14th. The technology company reported ($0.64) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.50) by $0.86. The company had revenue of $19.44 million during the quarter, compared to the consensus estimate of $22.40 million. Sphere 3D Corp. had a negative return on equity of 100.71% and a negative net margin of 84.35%. Equities analysts predict that Sphere 3D Corp. will post ($7.95) EPS for the current fiscal year.

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A hedge fund recently raised its stake in Sphere 3D Corp. stock. Cyrus Capital Partners L.P. boosted its position in Sphere 3D Corp. (NASDAQ:ANY) by 40.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,230,440 shares of the technology company’s stock after buying an additional 4,407,914 shares during the period. Sphere 3D Corp. accounts for approximately 0.4% of Cyrus Capital Partners L.P.’s investment portfolio, making the stock its 10th largest position. Cyrus Capital Partners L.P. owned approximately 370.75% of Sphere 3D Corp. worth $2,939,000 as of its most recent filing with the SEC.

About Sphere 3D Corp.

Sphere 3D Corp. provides virtualization technologies and data management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications, virtual desktops, virtual storage, and physical hyper-converged platforms.

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