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

Sphere 3D Corp. (NASDAQ:ANY) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 151,000 shares, a drop of 40.4% from the March 31st total of 253,200 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average daily trading volume, of 337,000 shares, the short-interest ratio is currently 0.4 days.

Sphere 3D Stock Down 2.5 %

NASDAQ:ANY opened at $0.54 on Tuesday. Sphere 3D has a 12-month low of $0.36 and a 12-month high of $1.90. The firm has a market capitalization of $14.19 million, a P/E ratio of -0.68 and a beta of 3.56. The stock’s fifty day simple moving average is $0.51 and its 200-day simple moving average is $0.89.

Sphere 3D (NASDAQ:ANY) last posted its earnings results on Friday, March 28th. The technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The business had revenue of $2.64 million for the quarter, compared to the consensus estimate of $6.72 million. Sphere 3D had a negative return on equity of 49.54% and a negative net margin of 50.87%. As a group, equities research analysts expect that Sphere 3D will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sphere 3D stock. Two Sigma Securities LLC bought a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned approximately 0.13% of Sphere 3D at the end of the most recent quarter. Institutional investors and hedge funds own 17.28% of the company’s stock.

Analyst Upgrades and Downgrades

ANY has been the subject of several research reports. StockNews.com began coverage on Sphere 3D in a research note on Thursday, April 24th. They issued a “sell” rating for the company. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Sphere 3D in a research report on Friday, April 4th.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.