Sphere 3D (NASDAQ:ANY) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Posted by Max Byerly on Oct 24th, 2024

Shares of Sphere 3D Corp. (NASDAQ:ANY – Get Free Report) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.90 and traded as high as $1.09. Sphere 3D shares last traded at $1.04, with a volume of 641,191 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ANY shares. HC Wainwright decreased their price target on shares of Sphere 3D from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, August 19th. StockNews.com upgraded shares of Sphere 3D from a “sell” rating to a “hold” rating in a research report on Friday, September 20th.

Check Out Our Latest Stock Analysis on ANY

Sphere 3D Trading Down 5.5 %

The firm has a market capitalization of $21.57 million, a price-to-earnings ratio of -0.79 and a beta of 2.81. The stock has a fifty day moving average price of $0.90 and a 200-day moving average price of $1.02.

Sphere 3D (NASDAQ:ANY – Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.03. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. The firm had revenue of $4.67 million during the quarter, compared to analyst estimates of $5.30 million. On average, equities analysts expect that Sphere 3D Corp. will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd bought a new position in shares of Sphere 3D Corp. (NASDAQ:ANY – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 17.28% of the company’s stock.

Sphere 3D Company Profile

(Get Free Report)

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.