Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Declines By 55.2%

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totaling 190,638 shares, a decrease of 55.2% from the March 15th total of 425,770 shares. Approximately 5.3% of the company’s shares are sold short. Based on an average trading volume of 152,435 shares, the short-interest ratio is presently 1.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ANY. Armistice Capital LLC bought a new position in shares of Sphere 3D in the fourth quarter worth approximately $465,000. Squarepoint Ops LLC bought a new position in shares of Sphere 3D in the fourth quarter worth approximately $113,000. Jane Street Group LLC bought a new position in shares of Sphere 3D in the fourth quarter worth approximately $37,000. XTX Topco Ltd lifted its stake in shares of Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock worth $39,000 after buying an additional 114,460 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after buying an additional 37,427 shares in the last quarter. Institutional investors own 17.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ANY shares. Wall Street Zen raised shares of Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Sphere 3D Price Performance

NASDAQ ANY opened at $1.45 on Friday. Sphere 3D has a twelve month low of $1.08 and a twelve month high of $12.60. The firm has a market capitalization of $5.47 million, a PE ratio of -0.19 and a beta of 3.72. The stock’s 50 day moving average is $1.53 and its 200 day moving average is $4.00.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Friday, March 6th. The technology company reported ($3.27) earnings per share for the quarter. Sphere 3D had a negative net margin of 192.13% and a negative return on equity of 84.26%. The firm had revenue of $2.72 million for the quarter. On average, research analysts anticipate that Sphere 3D will post -0.58 earnings per share for the current year.

About Sphere 3D

Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.

Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.