Sphere 3D (NASDAQ:ANY) Downgraded by StockNews.com to “Sell”

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

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

Sphere 3D Trading Down 5.8 %

Sphere 3D stock opened at $1.45 on Tuesday. The business has a 50-day moving average of $0.99 and a 200-day moving average of $1.03. Sphere 3D has a 1 year low of $0.57 and a 1 year high of $4.09. The firm has a market capitalization of $30.08 million, a P/E ratio of -1.16 and a beta of 2.80.

Sphere 3D (NASDAQ:ANY) last posted its earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, topping 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 analyst estimates of $5.30 million. Research analysts anticipate that Sphere 3D will post -0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd acquired a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D at the end of the most recent reporting period. Institutional investors and hedge funds own 17.28% of the company’s stock.

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.