Sphere 3D (NASDAQ:ANY) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Sphere 3D (NASDAQ:ANY) in a research report sent to investors on Tuesday. The brokerage issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $3.00 price objective on shares of Sphere 3D in a report on Friday, April 4th.

Sphere 3D Stock Performance

ANY stock opened at $0.47 on Tuesday. The firm’s fifty day moving average is $0.54 and its 200 day moving average is $0.91. Sphere 3D has a one year low of $0.36 and a one year high of $1.90. The firm has a market cap of $12.19 million, a PE ratio of -0.58 and a beta of 3.56.

Sphere 3D (NASDAQ:ANY) last posted its earnings results on Friday, March 28th. The technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $2.64 million during the quarter, compared to analyst estimates of $6.72 million. Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. Research analysts predict that Sphere 3D will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. Two Sigma Investments LP boosted its position in Sphere 3D Corp. (NASDAQ:ANY) by 92.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,595 shares of the technology company’s stock after buying an additional 16,577 shares during the period. Two Sigma Investments LP owned approximately 0.14% of Sphere 3D worth $33,000 as of its most recent SEC filing. 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.