Sphere 3D Corp. (NASDAQ:ANY) Sees Large Drop in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 413,900 shares, a decrease of 49.7% from the August 31st total of 822,100 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 439,400 shares, the days-to-cover ratio is presently 0.9 days.

Analyst Upgrades and Downgrades

ANY has been the subject of several research reports. StockNews.com raised shares of Sphere 3D from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright dropped their price target on Sphere 3D from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, August 19th.

Sphere 3D Stock Performance

NASDAQ ANY opened at $0.99 on Friday. Sphere 3D has a 52 week low of $0.57 and a 52 week high of $4.09. The stock’s 50 day moving average price is $0.92 and its two-hundred day moving average price is $1.09. The stock has a market capitalization of $20.58 million, a price-to-earnings ratio of -0.55 and a beta of 2.81.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $4.67 million for the quarter, compared to analyst estimates of $5.30 million. Sphere 3D had a negative net margin of 69.64% and a negative return on equity of 67.44%. On average, equities research analysts forecast that Sphere 3D will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. Crescent Grove Advisors LLC acquired a new stake in Sphere 3D Corp. (NASDAQ:ANY) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned about 0.10% of Sphere 3D at the end of the most recent quarter. Hedge funds and other institutional investors 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.