Sphere 3D Corp. (NASDAQ:ANY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $0.50 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 7.99% from the company’s current price.

According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “

Shares of Sphere 3D Corp. (NASDAQ:ANY) traded up 5.8747% during midday trading on Wednesday, hitting $0.4902. The stock had a trading volume of 212,093 shares. The company’s market cap is $25.01 million. The company’s 50 day moving average is $0.58 and its 200 day moving average is $0.90. Sphere 3D Corp. has a 52-week low of $0.40 and a 52-week high of $3.44.

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Sphere 3D Corp. (NASDAQ:ANY) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by $0.01. The business earned $19.60 million during the quarter, compared to the consensus estimate of $20.40 million. Sphere 3D Corp. had a negative return on equity of 37.54% and a negative net margin of 60.50%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS. On average, analysts anticipate that Sphere 3D Corp. will post ($0.72) earnings per share for the current year.

An institutional investor recently bought a new position in Sphere 3D Corp. stock. Harber Asset Management LLC acquired a new position in Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 218,464 shares of the company’s stock, valued at approximately $175,000. Harber Asset Management LLC owned 0.44% of Sphere 3D Corp. as of its most recent SEC filing. Institutional investors and hedge funds own 17.09% of the company’s stock.

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