Sphere 3D (NASDAQ:ANY) Stock Rating Lowered by StockNews.com

Sphere 3D (NASDAQ:ANY) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Separately, HC Wainwright reduced their target price 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.

Sphere 3D Price Performance

ANY stock opened at $0.88 on Thursday. Sphere 3D has a 1 year low of $0.57 and a 1 year high of $4.09. The stock has a market capitalization of $18.25 million, a PE ratio of -0.48 and a beta of 2.81. The company’s 50-day moving average is $0.96 and its 200-day moving average is $1.15.

Sphere 3D (NASDAQ:ANY) last issued its earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The company had revenue of $4.67 million for the quarter, compared to analyst estimates of $5.30 million. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. On average, analysts anticipate that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

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 stake in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned approximately 0.28% of Sphere 3D at the end of the most recent quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

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.