Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Grows By 29.0%

Posted by Cheyenne Larson on Nov 30th, 2024

Sphere 3D Corp. (NASDAQ:ANY – Get Free Report) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 721,500 shares, a growth of 29.0% from the October 31st total of 559,500 shares. Based on an average daily volume of 680,400 shares, the days-to-cover ratio is currently 1.1 days. Currently, 3.6% of the company’s stock are short sold.

Sphere 3D Stock Performance

Shares of ANY traded up $0.09 during midday trading on Friday, hitting $1.47. 727,931 shares of the company traded hands, compared to its average volume of 763,938. Sphere 3D has a 52 week low of $0.57 and a 52 week high of $4.09. The firm has a 50 day moving average of $1.13 and a 200-day moving average of $1.06. The stock has a market cap of $31.22 million, a price-to-earnings ratio of -1.84 and a beta of 2.80.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Sphere 3D in a research note on Monday, November 18th. StockNews.com cut Sphere 3D from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th.

Get Our Latest Research Report on ANY

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd bought a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 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 hedge funds and other institutional investors.

Sphere 3D Company Profile

(Get Free Report)

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.