Sphere 3D Corp. (NASDAQ:ANY) Short Interest Down 14.1% in March

Sphere 3D Corp. (NASDAQ:ANY) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 582,300 shares, a decline of 14.1% from the February 29th total of 678,000 shares. Approximately 3.5% of the shares of the company are short sold. Based on an average trading volume of 1,480,000 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

ANY has been the subject of a number of analyst reports. StockNews.com upgraded Sphere 3D from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Sphere 3D in a research report on Thursday, December 28th.

Institutional Trading of Sphere 3D

Several institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its holdings in shares of Sphere 3D by 62.9% in the first quarter. Renaissance Technologies LLC now owns 851,276 shares of the technology company’s stock valued at $1,788,000 after buying an additional 328,746 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Sphere 3D by 442.0% during the fourth quarter. Vanguard Group Inc. now owns 450,035 shares of the technology company’s stock valued at $1,494,000 after purchasing an additional 367,000 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Sphere 3D by 537.3% during the first quarter. Virtu Financial LLC now owns 122,323 shares of the technology company’s stock valued at $257,000 after purchasing an additional 103,130 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new stake in shares of Sphere 3D during the first quarter valued at $48,000. Finally, XTX Topco Ltd purchased a new stake in shares of Sphere 3D during the first quarter valued at $43,000. Institutional investors and hedge funds own 17.28% of the company’s stock.

Sphere 3D Stock Up 13.2 %

Shares of Sphere 3D stock opened at $1.54 on Monday. The firm has a market cap of $27.41 million, a price-to-earnings ratio of -0.80 and a beta of 2.81. The business has a fifty day simple moving average of $1.92 and a 200-day simple moving average of $1.68. Sphere 3D has a fifty-two week low of $0.57 and a fifty-two week high of $4.09.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Wednesday, March 13th. The technology company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.36). The firm had revenue of $7.69 million during the quarter, compared to analyst estimates of $7.70 million. Sphere 3D had a negative net margin of 106.85% and a negative return on equity of 75.32%. Analysts anticipate that Sphere 3D will post -1.39 earnings per share for the current fiscal year.

Sphere 3D Company Profile

Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. The company also provides data management and desktop and application virtualization solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional services organization.