Sphere 3D (NASDAQ:ANY) Stock Crosses Above Fifty Day Moving Average of $1.10

Sphere 3D Corp. (NASDAQ:ANY)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $1.10 and traded as high as $1.19. Sphere 3D shares last traded at $1.12, with a volume of 1,272,529 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 price target on shares of Sphere 3D in a report on Thursday, May 16th. StockNews.com lowered Sphere 3D from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th.

Sphere 3D Stock Performance

The company has a market cap of $20.51 million, a price-to-earnings ratio of -0.61 and a beta of 2.77. The firm’s 50-day moving average price is $1.11 and its 200 day moving average price is $1.67.

Sphere 3D (NASDAQ:ANY) last issued its earnings results on Monday, May 13th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. The firm had revenue of $6.95 million for the quarter, compared to analysts’ expectations of $8.30 million. Sphere 3D had a negative return on equity of 72.59% and a negative net margin of 94.39%. As a group, equities research analysts predict that Sphere 3D Corp. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sphere 3D news, CFO Kurt L. Kalbfleisch sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $1.17, for a total transaction of $93,600.00. Following the sale, the chief financial officer now directly owns 124,189 shares in the company, valued at approximately $145,301.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Patricia Trompeter sold 150,000 shares of Sphere 3D stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $1.14, for a total value of $171,000.00. Following the sale, the chief executive officer now owns 549,687 shares of the company’s stock, valued at approximately $626,643.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kurt L. Kalbfleisch sold 80,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $1.17, for a total value of $93,600.00. Following the completion of the sale, the chief financial officer now owns 124,189 shares in the company, valued at approximately $145,301.13. The disclosure for this sale can be found here. Corporate insiders own 5.59% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. Crescent Grove Advisors LLC acquired a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned 0.10% of Sphere 3D at the end of the most recent reporting period. 17.28% of the stock is owned by institutional investors.

Sphere 3D Company Profile

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.