Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Decreases By 40.9%

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 426,500 shares, a decline of 40.9% from the January 15th total of 721,300 shares. Approximately 1.8% of the shares of the company are sold short. Based on an average daily volume of 866,800 shares, the days-to-cover ratio is currently 0.5 days.

Insider Activity at Sphere 3D

In related news, CEO Patricia Trompeter sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $1.31, for a total transaction of $26,200.00. Following the sale, the chief executive officer now owns 597,187 shares of the company’s stock, valued at $782,314.97. This represents a 3.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 36,000 shares of company stock worth $46,760 in the last ninety days. 5.59% of the stock is owned by company insiders.

Sphere 3D Stock Down 2.5 %

Sphere 3D stock traded down $0.02 during midday trading on Friday, hitting $0.76. 107,351 shares of the stock were exchanged, compared to its average volume of 565,053. The stock has a market capitalization of $19.39 million, a price-to-earnings ratio of -0.95 and a beta of 2.98. Sphere 3D has a 52-week low of $0.67 and a 52-week high of $2.68. The business’s 50-day moving average price is $1.01 and its 200-day moving average price is $1.03.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Sphere 3D in a report on Monday, November 18th. StockNews.com upgraded Sphere 3D from a “sell” rating to a “hold” rating in a report on Tuesday.

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.