Sphere 3D Corp. (NASDAQ:ANY) Sees Large Increase in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 822,100 shares, an increase of 98.6% from the September 15th total of 413,900 shares. Based on an average daily volume of 371,200 shares, the short-interest ratio is presently 2.2 days. Currently, 4.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HC Wainwright decreased their target price on Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research report 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 Trading Down 1.2 %

ANY opened at $0.86 on Friday. The firm has a market cap of $17.76 million, a price-to-earnings ratio of -0.46 and a beta of 2.81. Sphere 3D has a 12 month low of $0.57 and a 12 month high of $4.09. The stock has a fifty day moving average price of $0.88 and a 200-day moving average price of $1.05.

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

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Crescent Grove Advisors LLC bought a new position in Sphere 3D Corp. (NASDAQ:ANY) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned about 0.10% of Sphere 3D at the end of the most recent reporting period. Institutional investors and hedge funds 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.