Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Drops By 85.5%

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 65,154 shares, a drop of 85.5% from the November 30th total of 447,982 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 349,084 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 349,084 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.2% of the company’s shares are short sold.

Sphere 3D Price Performance

NASDAQ:ANY opened at $0.38 on Friday. The stock has a market cap of $12.88 million, a PE ratio of -0.50 and a beta of 3.54. Sphere 3D has a fifty-two week low of $0.35 and a fifty-two week high of $1.26. The stock’s 50-day moving average is $0.54 and its two-hundred day moving average is $0.62.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings results on Tuesday, November 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The company had revenue of $2.62 million during the quarter, compared to analysts’ expectations of $3.00 million. Sphere 3D had a negative return on equity of 61.18% and a negative net margin of 167.47%. On average, equities research analysts anticipate that Sphere 3D will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

Insider Transactions at Sphere 3D

In other news, CEO Kurt L. Kalbfleisch sold 90,000 shares of Sphere 3D stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $0.47, for a total value of $42,300.00. Following the transaction, the chief executive officer directly owned 558,964 shares of the company’s stock, valued at $262,713.08. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Sphere 3D

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after acquiring an additional 37,427 shares during the last quarter. XTX Topco Ltd grew its stake in Sphere 3D by 51.7% in the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after purchasing an additional 24,424 shares in the last quarter. Finally, Armistice Capital LLC grew its stake in Sphere 3D by 1.4% in the first quarter. Armistice Capital LLC now owns 2,204,934 shares of the technology company’s stock valued at $879,000 after purchasing an additional 30,934 shares in the last quarter. Institutional investors and hedge funds own 17.28% of the company’s stock.

Sphere 3D Company Profile

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.