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

StockNews.com began coverage on shares of Sphere 3D (NASDAQ:ANY) in a research report sent to investors on Tuesday. The firm issued a sell rating on the technology company’s stock.

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

Sphere 3D Price Performance

ANY opened at $0.47 on Tuesday. Sphere 3D has a 12 month low of $0.36 and a 12 month high of $1.90. The stock has a market capitalization of $12.19 million, a P/E ratio of -0.58 and a beta of 3.56. The business has a 50 day simple moving average of $0.54 and a 200-day simple moving average of $0.91.

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

Institutional Investors Weigh In On Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. Two Sigma Securities LLC purchased a new stake in Sphere 3D Corp. (NASDAQ:ANY) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned approximately 0.13% of Sphere 3D at the end of the most recent reporting period. 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.