Sphere 3D (NASDAQ:ANY) Upgraded by StockNews.com to Hold

StockNews.com upgraded shares of Sphere 3D (NASDAQ:ANY) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Separately, HC Wainwright reduced 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 Price Performance

Shares of ANY opened at $0.89 on Friday. The firm has a market cap of $18.48 million, a price-to-earnings ratio of -0.48 and a beta of 2.81. The company’s fifty day moving average is $0.94 and its 200-day moving average is $1.11. Sphere 3D has a 12 month low of $0.57 and a 12 month high of $4.09.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sphere 3D stock. Crescent Grove Advisors LLC acquired a new position in Sphere 3D Corp. (NASDAQ:ANY) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned 0.10% of Sphere 3D as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.