Sphere 3D (NASDAQ:ANY) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $1.46 and traded as high as $1.5699. Sphere 3D shares last traded at $1.50, with a volume of 151,454 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised Sphere 3D to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Sphere 3D has an average rating of “Hold” and a consensus target price of $30.00.

Sphere 3D Stock Performance

The firm has a 50 day moving average of $1.46 and a two-hundred day moving average of $3.72. The stock has a market cap of $5.66 million, a P/E ratio of -0.19 and a beta of 3.72.

Sphere 3D (NASDAQ:ANY) last announced its 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 business had revenue of $2.72 million for the quarter. On average, sell-side analysts anticipate that Sphere 3D Corp. will post -2.76 EPS for the current fiscal year.

Institutional Trading of Sphere 3D

Several hedge funds have recently added to or reduced their stakes in ANY. Jane Street Group LLC bought a new stake in Sphere 3D during the 4th quarter valued at approximately $37,000. BNP Paribas Financial Markets boosted its stake in Sphere 3D by 294.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after purchasing an additional 37,427 shares during the period. XTX Topco Ltd boosted its stake in Sphere 3D by 678.6% during the 4th quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Sphere 3D in the 4th quarter worth approximately $113,000. Finally, Armistice Capital LLC bought a new stake in shares of Sphere 3D in the 4th quarter worth approximately $465,000. Institutional investors own 17.28% of the company’s stock.

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.