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

Sphere 3D (NASDAQ:ANY) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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

Sphere 3D Price Performance

NASDAQ ANY opened at $1.54 on Tuesday. The stock’s 50 day simple moving average is $0.98 and its 200 day simple moving average is $1.02. Sphere 3D has a one year low of $0.57 and a one year high of $4.09. The firm has a market cap of $31.94 million, a PE ratio of -1.19 and a beta of 2.80.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.67 million during the quarter, compared to analysts’ expectations of $5.30 million. As a group, equities analysts expect that Sphere 3D will post -0.7 earnings per share 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 stake in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC. Institutional investors and hedge funds own 17.28% of the company’s stock.

Sphere 3D Company Profile

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.