Sphere 3D (NASDAQ:ANY) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Sphere 3D (NASDAQ:ANY) in a research report issued to clients and investors on Tuesday. The firm set a “sell” rating on the technology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Sphere 3D in a research note on Friday, April 4th.

Sphere 3D Price Performance

Shares of NASDAQ:ANY opened at $0.46 on Tuesday. The business’s 50-day moving average is $0.55 and its 200 day moving average is $0.91. Sphere 3D has a 1 year low of $0.36 and a 1 year high of $1.90. The firm has a market capitalization of $11.93 million, a P/E ratio of -0.57 and a beta of 3.56.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Friday, March 28th. The technology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The company had revenue of $2.64 million for the quarter, compared to analyst estimates of $6.72 million. Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. On average, analysts expect that Sphere 3D will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. Two Sigma Securities LLC acquired a new stake in Sphere 3D Corp. (NASDAQ:ANY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned approximately 0.13% of Sphere 3D as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.