Sphere 3D (NASDAQ:ANY) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Sphere 3D (NASDAQ:ANY) in a research note issued to investors on Friday morning. The brokerage issued a sell rating on the technology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Sphere 3D in a research report on Friday, April 4th.

Sphere 3D Trading Up 6.2 %

ANY opened at $0.60 on Friday. The company’s 50 day moving average is $0.50 and its 200-day moving average is $0.88. The company has a market cap of $15.81 million, a P/E ratio of -0.75 and a beta of 3.64. Sphere 3D has a 1-year low of $0.36 and a 1-year high of $1.90.

Sphere 3D (NASDAQ:ANY) last posted its earnings results on Friday, March 28th. The technology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.02). Sphere 3D had a negative return on equity of 49.54% and a negative net margin of 50.87%. The company had revenue of $2.64 million for the quarter, compared to the consensus estimate of $6.72 million. On average, equities analysts forecast that Sphere 3D will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Two Sigma Securities LLC acquired a new stake in Sphere 3D Corp. (NASDAQ:ANY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned 0.13% of Sphere 3D as of its most recent SEC filing. Hedge funds and other institutional investors own 17.28% of the company’s stock.

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.