StockNews.com Downgrades Sphere 3D (NASDAQ:ANY) to Sell

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Sphere 3D in a research note on Monday, November 18th.

Sphere 3D Stock Down 5.9 %

Shares of Sphere 3D stock opened at $0.87 on Thursday. The company has a market cap of $22.03 million, a PE ratio of -1.08 and a beta of 2.99. Sphere 3D has a 52 week low of $0.67 and a 52 week high of $2.73. The business has a 50 day moving average price of $1.15 and a 200-day moving average price of $1.06.

Insider Transactions at Sphere 3D

In other Sphere 3D news, CEO Patricia Trompeter sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.31, for a total transaction of $26,200.00. Following the sale, the chief executive officer now owns 597,187 shares in the company, valued at approximately $782,314.97. This trade represents a 3.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 36,000 shares of company stock worth $46,760 over the last three months. 5.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.