Sphere 3D Corp. (NASDAQ:ANY) Sees Large Drop in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 543,400 shares, a decrease of 42.2% from the August 31st total of 939,800 shares. Based on an average daily trading volume, of 978,700 shares, the days-to-cover ratio is presently 0.6 days. Approximately 2.0% of the company’s shares are short sold. Approximately 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 978,700 shares, the days-to-cover ratio is presently 0.6 days.

Sphere 3D Trading Down 1.7%

Sphere 3D stock opened at $0.84 on Friday. 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 $23.75 million, a price-to-earnings ratio of -1.37 and a beta of 3.45. The firm’s fifty day moving average price is $0.63 and its two-hundred day moving average price is $0.62.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings data on Tuesday, August 5th. The technology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Sphere 3D had a negative net margin of 131.43% and a negative return on equity of 47.27%. The firm had revenue of $3.02 million for the quarter, compared to analyst estimates of $4.60 million. On average, research analysts forecast that Sphere 3D will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ANY shares. Wall Street Zen upgraded shares of Sphere 3D from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sphere 3D currently has an average rating of “Hold” and a consensus price target of $3.00.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ANY. Two Sigma Investments LP lifted its position in shares of Sphere 3D by 92.0% during the fourth quarter. Two Sigma Investments LP now owns 34,595 shares of the technology company’s stock valued at $33,000 after purchasing an additional 16,577 shares in the last quarter. Armistice Capital LLC lifted its position in shares of Sphere 3D by 1.4% during the first quarter. Armistice Capital LLC now owns 2,204,934 shares of the technology company’s stock valued at $879,000 after purchasing an additional 30,934 shares in the last quarter. Finally, XTX Topco Ltd lifted its position in shares of Sphere 3D by 51.7% during the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after purchasing an additional 24,424 shares in the last quarter. 17.28% of the stock is owned by institutional investors.

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.