Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) saw a large decrease in short interest in October. As of October 15th, there was short interest totaling 211,700 shares, a decrease of 62.5% from the September 30th total of 564,300 shares. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 974,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 974,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.8% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Sphere 3D from a “strong sell” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sphere 3D currently has an average rating of “Hold” and an average price target of $3.00.

Hedge Funds Weigh In On Sphere 3D

An institutional investor recently raised its position in Sphere 3D stock. Armistice Capital LLC boosted its position in shares of Sphere 3D Corp. (NASDAQ:ANY) by 1.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,204,934 shares of the technology company’s stock after acquiring an additional 30,934 shares during the quarter. Armistice Capital LLC owned 8.42% of Sphere 3D worth $879,000 at the end of the most recent quarter. 17.28% of the stock is owned by institutional investors and hedge funds.

Sphere 3D Trading Down 2.2%

NASDAQ ANY opened at $0.75 on Wednesday. The stock has a market cap of $21.29 million, a PE ratio of -1.23 and a beta of 3.45. Sphere 3D has a twelve month low of $0.36 and a twelve month high of $1.90. The stock has a fifty day simple moving average of $0.73 and a 200-day simple moving average of $0.67.

Sphere 3D (NASDAQ:ANY) last announced its earnings results on Tuesday, August 5th. The technology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. Sphere 3D had a negative return on equity of 47.27% and a negative net margin of 131.43%.The company had revenue of $3.02 million during the quarter, compared to analysts’ expectations of $4.60 million. Research analysts predict that Sphere 3D will post -0.58 EPS for the current 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.