Sphere 3D (NASDAQ:ANY) Earns Sell Rating from Analysts at StockNews.com

Research analysts at StockNews.com initiated coverage on shares of Sphere 3D (NASDAQ:ANY) in a report issued on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Sphere 3D in a report on Friday, April 4th.

Sphere 3D Trading Down 6.8 %

ANY stock traded down $0.04 during midday trading on Tuesday, reaching $0.48. The company had a trading volume of 155,206 shares, compared to its average volume of 571,869. The company has a 50 day moving average of $0.56 and a two-hundred day moving average of $0.92. Sphere 3D has a 1 year low of $0.36 and a 1 year high of $1.90. The company has a market capitalization of $12.56 million, a P/E ratio of -0.60 and a beta of 3.56.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings data on Friday, March 28th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. The firm had revenue of $2.64 million for the quarter, compared to analyst estimates of $6.72 million. On average, sell-side analysts anticipate that Sphere 3D will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Sphere 3D

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

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.