Sphere 3D Corp. (NASDAQ:ANY) Short Interest Update

Sphere 3D Corp. (NASDAQ:ANY) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 259,300 shares, a decline of 68.5% from the September 30th total of 822,100 shares. Based on an average daily volume of 357,400 shares, the short-interest ratio is presently 0.7 days. Currently, 1.3% of the company’s shares are sold short.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd acquired a new position in Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 17.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HC Wainwright dropped their price target on shares of Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, August 19th. StockNews.com upgraded shares of Sphere 3D from a “sell” rating to a “hold” rating in a report on Friday, September 20th.

Sphere 3D Price Performance

Shares of NASDAQ:ANY traded down $0.03 during mid-day trading on Friday, hitting $1.04. The company had a trading volume of 648,650 shares, compared to its average volume of 703,826. The company has a market capitalization of $19.04 million, a PE ratio of -0.56 and a beta of 2.81. Sphere 3D has a one year low of $0.57 and a one year high of $4.09. The firm has a fifty day moving average price of $0.91 and a 200 day moving average price of $1.01.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The business had revenue of $4.67 million during the quarter, compared to the consensus estimate of $5.30 million. Sphere 3D had a negative net margin of 69.64% and a negative return on equity of 67.44%. Research analysts expect that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

Sphere 3D Company Profile

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.