Sphere 3D (NASDAQ:ANY) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sphere 3D (NASDAQ:ANY) in a research note released on Wednesday. The firm issued a sell rating on the technology company’s stock.

Sphere 3D Price Performance

Shares of ANY stock opened at $0.55 on Wednesday. The company has a market cap of $14.40 million, a price-to-earnings ratio of -0.69 and a beta of 3.56. The stock has a 50 day simple moving average of $0.65 and a 200-day simple moving average of $0.95. Sphere 3D has a 1-year low of $0.38 and a 1-year high of $1.90.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Friday, March 28th. The technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $6.72 million. Analysts anticipate that Sphere 3D will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere 3D

An institutional investor recently raised its position in Sphere 3D stock. Two Sigma Investments LP lifted its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 92.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission. 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.