Sphere 3D (NASDAQ:ANY) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Sphere 3D (NASDAQ:ANY) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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

Sphere 3D Trading Down 3.5 %

Shares of NASDAQ:ANY opened at $0.64 on Tuesday. The firm has a 50 day moving average of $0.92 and a 200-day moving average of $1.02. The stock has a market capitalization of $16.34 million, a PE ratio of -0.80 and a beta of 2.98. Sphere 3D has a 12 month low of $0.61 and a 12 month high of $2.60.

Insider Buying and Selling

In related news, CEO Patricia Trompeter sold 20,000 shares of the company’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 completion of the transaction, the chief executive officer now directly owns 597,187 shares in the company, valued at $782,314.97. This represents a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 36,000 shares of company stock worth $46,760 in the last three months. 5.59% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. Two Sigma Investments LP grew its position in Sphere 3D Corp. (NASDAQ:ANY) by 92.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,595 shares of the technology company’s stock after purchasing an additional 16,577 shares during the quarter. Two Sigma Investments LP owned approximately 0.14% of Sphere 3D worth $33,000 as of its most recent filing with the SEC. 17.28% of the stock is currently owned by institutional investors.

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.