Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Declines By 41.7%

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant drop in short interest in the month of April. As of April 15th, there was short interest totaling 111,219 shares, a drop of 41.7% from the March 31st total of 190,638 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 86,572 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Sphere 3D

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in Sphere 3D by 294.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after purchasing an additional 37,427 shares in the last quarter. XTX Topco Ltd raised its position in Sphere 3D by 51.7% in the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after buying an additional 24,424 shares during the last quarter. Jane Street Group LLC purchased a new position in Sphere 3D in the 4th quarter worth about $37,000. Squarepoint Ops LLC purchased a new position in Sphere 3D in the 4th quarter worth about $113,000. Finally, Armistice Capital LLC bought a new stake in shares of Sphere 3D in the fourth quarter worth approximately $465,000. Institutional investors own 17.28% of the company’s stock.

Sphere 3D Price Performance

Shares of Sphere 3D stock opened at $1.45 on Monday. The stock has a market cap of $5.47 million, a price-to-earnings ratio of -0.19 and a beta of 3.72. The firm’s 50-day moving average is $1.46 and its 200 day moving average is $3.52. Sphere 3D has a 1 year low of $1.08 and a 1 year high of $12.60.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings results on Friday, March 6th. The technology company reported ($3.27) earnings per share (EPS) for the quarter. The firm had revenue of $2.72 million during the quarter. Sphere 3D had a negative return on equity of 84.26% and a negative net margin of 192.13%. On average, equities analysts expect that Sphere 3D will post -2.76 EPS for the current fiscal year.

Sphere 3D Company Profile

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.