Sphere 3D (NASDAQ:ANY) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Sphere 3D (NASDAQ:ANY) from a hold rating to a sell rating in a report issued on Tuesday.

Separately, HC Wainwright decreased their target price on Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 19th.

Sphere 3D Trading Up 8.0 %

ANY opened at $1.75 on Tuesday. The company has a 50 day moving average of $0.96 and a two-hundred day moving average of $1.02. Sphere 3D has a 52-week low of $0.57 and a 52-week high of $4.09.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.30 million. On average, research analysts expect that Sphere 3D will post -0.7 EPS for the current fiscal year.

Institutional Trading of Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd purchased a new position in Sphere 3D Corp. (NASDAQ:ANY) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned approximately 0.28% of Sphere 3D as of its most recent filing with the Securities & Exchange Commission. 17.28% of the stock is currently owned by institutional investors.

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.