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

Sphere 3D Corp. (NASDAQ:ANY) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 211,700 shares, a drop of 62.5% from the September 30th total of 564,300 shares. Based on an average trading volume of 974,000 shares, the days-to-cover 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 days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Sphere 3D

An institutional investor recently raised its position in Sphere 3D stock. XTX Topco Ltd boosted its position in shares of Sphere 3D Corp. (NASDAQ:ANY) by 51.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,682 shares of the technology company’s stock after buying an additional 24,424 shares during the period. XTX Topco Ltd owned 0.25% of Sphere 3D worth $42,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Analyst Ratings Changes

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

Sphere 3D Stock Performance

Shares of NASDAQ ANY opened at $0.75 on Wednesday. Sphere 3D has a fifty-two week low of $0.36 and a fifty-two week high of $1.90. The firm has a market capitalization of $21.29 million, a PE ratio of -1.23 and a beta of 3.45. The stock’s 50-day simple moving average is $0.73 and its 200-day simple moving average is $0.67.

Sphere 3D (NASDAQ:ANY) last issued its earnings results on Tuesday, August 5th. The technology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. Sphere 3D had a negative return on equity of 47.27% and a negative net margin of 131.43%.The business had revenue of $3.02 million for the quarter, compared to analyst estimates of $4.60 million. On average, sell-side analysts forecast that Sphere 3D will post -0.58 earnings per share for the current fiscal year.

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.