StockNews.com Downgrades Sphere 3D (NASDAQ:ANY) to Sell

StockNews.com downgraded shares of Sphere 3D (NASDAQ:ANY) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Separately, HC Wainwright lowered their price target on Sphere 3D from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, August 19th.

Sphere 3D Stock Up 2.8 %

NASDAQ:ANY opened at $1.49 on Tuesday. The business’s 50-day moving average price is $1.01 and its two-hundred day moving average price is $1.03. Sphere 3D has a twelve month low of $0.57 and a twelve month high of $4.09. The stock has a market cap of $30.90 million, a P/E ratio of -1.18 and a beta of 2.80.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. The firm had revenue of $4.67 million for the quarter, compared to analysts’ expectations of $5.30 million. On average, equities research analysts expect that Sphere 3D will post -0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd acquired a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned approximately 0.28% of Sphere 3D at the end of the most recent quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

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.