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

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 211,700 shares, a decline of 62.5% from the September 30th total of 564,300 shares. Based on an average trading volume of 974,000 shares, the short-interest ratio is currently 0.2 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average trading volume of 974,000 shares, the short-interest ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ANY shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sphere 3D from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.00.

Sphere 3D Trading Down 2.6%

Shares of ANY stock opened at $0.73 on Thursday. The business’s fifty day simple moving average is $0.74 and its 200-day simple moving average is $0.67. The company has a market cap of $20.75 million, a PE ratio of -1.20 and a beta of 3.45. Sphere 3D has a 12-month low of $0.36 and a 12-month high of $1.90.

Sphere 3D (NASDAQ:ANY) last announced 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. The firm had revenue of $3.02 million for the quarter, compared to analyst estimates of $4.60 million. Sphere 3D had a negative net margin of 131.43% and a negative return on equity of 47.27%. On average, equities analysts forecast that Sphere 3D will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Sphere 3D stock. Armistice Capital LLC increased its stake in shares of Sphere 3D Corp. (NASDAQ:ANY) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,204,934 shares of the technology company’s stock after purchasing an additional 30,934 shares during the period. Armistice Capital LLC owned 8.42% of Sphere 3D worth $879,000 as of its most recent filing with the Securities & Exchange Commission. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

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.