Sphere 3D (NASDAQ:ANY) Share Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Sphere 3D Corp. (NASDAQ:ANY) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.02 and traded as low as $0.70. Sphere 3D shares last traded at $0.71, with a volume of 202,399 shares changing hands.

Analyst Ratings Changes

A number of analysts recently commented on ANY shares. StockNews.com raised Sphere 3D from a “sell” rating to a “hold” rating in a research note on Tuesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $3.00 target price on shares of Sphere 3D in a research report on Monday, November 18th.

Sphere 3D Price Performance

The company has a 50-day moving average of $0.94 and a two-hundred day moving average of $1.02. The stock has a market capitalization of $16.95 million, a PE ratio of -0.83 and a beta of 2.98.

Insider Transactions at Sphere 3D

In other news, CEO Patricia Trompeter sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $1.31, for a total value of $26,200.00. Following the transaction, the chief executive officer now directly owns 597,187 shares in the company, valued at $782,314.97. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 36,000 shares of company stock worth $46,760 in the last three months. 5.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. Two Sigma Investments LP increased its stake in Sphere 3D Corp. (NASDAQ:ANY) by 92.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,595 shares of the technology company’s stock after buying 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 filing with the SEC. 17.28% of the stock is currently owned by institutional investors and hedge funds.

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.