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

Sphere 3D Corp. (NASDAQ:ANY)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.39 and traded as high as $3.17. Sphere 3D shares last traded at $2.95, with a volume of 221,283 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on ANY shares. Weiss Ratings raised shares of Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised Sphere 3D to a “sell” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Sphere 3D Stock Performance

The company’s 50 day moving average price is $2.39 and its 200 day moving average price is $2.40. The company has a market cap of $12.51 million, a price-to-earnings ratio of -0.85 and a beta of 3.63.

Sphere 3D (NASDAQ:ANY) last announced its earnings results on Friday, May 8th. The technology company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46). The firm had revenue of $1.92 million for the quarter, compared to analyst estimates of $2.90 million. Sphere 3D had a negative return on equity of 78.14% and a negative net margin of 163.45%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd grew its position in Sphere 3D by 678.6% during the 4th quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock worth $39,000 after acquiring an additional 114,460 shares during the last quarter. Armistice Capital LLC bought a new position in Sphere 3D in the 4th quarter valued at $465,000. Squarepoint Ops LLC bought a new position in Sphere 3D in the 4th quarter valued at $113,000. Jane Street Group LLC acquired a new position in Sphere 3D in the fourth quarter worth $37,000. Finally, BNP Paribas Financial Markets boosted its stake in 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 purchasing an additional 37,427 shares in the last quarter. Institutional investors 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.