Sphere 3D (NASDAQ:ANY) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Sphere 3D (NASDAQ:ANY) in a research report released on Friday morning,Benzinga reports. They currently have a $3.00 target price on the technology company’s stock.

Separately, StockNews.com initiated coverage on Sphere 3D in a report on Wednesday. They set a “sell” rating for the company.

Sphere 3D Price Performance

Shares of ANY opened at $0.48 on Friday. The firm has a market capitalization of $12.53 million, a PE ratio of -0.60 and a beta of 3.56. The company’s 50-day moving average is $0.63 and its 200-day moving average is $0.94. Sphere 3D has a fifty-two week low of $0.38 and a fifty-two week high of $1.90.

Sphere 3D (NASDAQ:ANY) last released its quarterly 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). Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. The company had revenue of $2.64 million during the quarter, compared to the consensus estimate of $6.72 million. Analysts predict that Sphere 3D will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Sphere 3D

An institutional investor recently raised its position in Sphere 3D stock. Two Sigma Investments LP grew its stake in shares of Sphere 3D Corp. (NASDAQ:ANY) by 92.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 34,595 shares of the technology company’s stock after acquiring an additional 16,577 shares during the quarter. Two Sigma Investments LP owned about 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.

Sphere 3D Company Profile

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.