Sphere 3D Corp. (NASDAQ:ANY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $2.75 price target on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.89% 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. “

Separately, ValuEngine raised shares of Sphere 3D Corp. from a “sell” rating to a “hold” rating in a report on Thursday, July 13th.

Sphere 3D Corp. (NASDAQ:ANY) last posted its quarterly earnings results on Monday, August 14th. The technology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($1.50) by $0.86. Sphere 3D Corp. had a negative net margin of 84.35% and a negative return on equity of 100.71%. The company had revenue of $19.44 million for the quarter, compared to analyst estimates of $22.40 million.

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An institutional investor recently raised its position in Sphere 3D Corp. stock. Virtu KCG Holdings LLC raised its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 540.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 866,676 shares of the technology company’s stock after purchasing an additional 731,429 shares during the quarter. Virtu KCG Holdings LLC owned 21.10% of Sphere 3D Corp. worth $167,000 at the end of the most recent reporting period.

Sphere 3D Corp. Company Profile

Sphere 3D Corp. provides virtualization technologies and data management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications, virtual desktops, virtual storage, and physical hyper-converged platforms.

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