Zacks Investment Research upgraded shares of Sphere 3D Corp. (NASDAQ:ANY) from a hold rating to a buy rating in a research note released on Thursday morning. The brokerage currently has $2.75 price objective on the technology company’s stock.

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 cut shares of Sphere 3D Corp. from a sell rating to a strong sell rating in a research report on Tuesday, August 1st.

Shares of Sphere 3D Corp. (ANY) traded down $0.01 during mid-day trading on Thursday, hitting $2.70. The stock had a trading volume of 274,884 shares, compared to its average volume of 774,532. Sphere 3D Corp. has a 1-year low of $2.13 and a 1-year high of $23.00.

Sphere 3D Corp. (NASDAQ:ANY) last released its quarterly earnings data on Monday, August 14th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.50) by $0.86. The business had revenue of $19.44 million during the quarter, compared to analysts’ expectations of $22.40 million. Sphere 3D Corp. had a negative net margin of 84.35% and a negative return on equity of 100.71%. equities research analysts anticipate that Sphere 3D Corp. will post -6.84 EPS for the current year.

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An institutional investor recently raised its position in Sphere 3D Corp. stock. Cyrus Capital Partners L.P. raised its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 40.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,230,440 shares of the technology company’s stock after purchasing an additional 4,407,914 shares during the quarter. Sphere 3D Corp. comprises approximately 0.4% of Cyrus Capital Partners L.P.’s portfolio, making the stock its 10th largest holding. Cyrus Capital Partners L.P. owned about 370.75% of Sphere 3D Corp. worth $2,939,000 as of its most recent SEC filing.

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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