Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) saw a large 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. Approximately 0.8% of the company’s shares are sold short. Based on an average trading volume of 974,000 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 974,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.8% of the company’s shares are sold short.

Sphere 3D Stock Performance

Shares of ANY opened at $0.70 on Friday. Sphere 3D has a 1 year low of $0.36 and a 1 year high of $1.90. The stock has a market capitalization of $19.74 million, a PE ratio of -1.14 and a beta of 3.45. The stock has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $0.67.

Sphere 3D (NASDAQ:ANY) last released its earnings results on Tuesday, August 5th. The technology company reported ($0.10) earnings per share for the quarter, topping 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. Analysts predict that Sphere 3D will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. XTX Topco Ltd lifted its position in shares of Sphere 3D Corp. (NASDAQ:ANY) by 51.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,682 shares of the technology company’s stock after purchasing an additional 24,424 shares during the period. XTX Topco Ltd owned about 0.25% of Sphere 3D worth $42,000 at the end of the most recent reporting period. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.