Sphere 3D (NASDAQ:ANY) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Shares of Sphere 3D Corp. (NASDAQ:ANY) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.27 and traded as low as $1.2701. Sphere 3D shares last traded at $1.35, with a volume of 94,848 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.00.

Sphere 3D Trading Up 3.1%

The stock has a market capitalization of $4.58 million, a price-to-earnings ratio of -0.18 and a beta of 3.75. The firm’s fifty day moving average price is $3.12 and its 200 day moving average price is $5.27.

Insider Buying and Selling

In other news, CEO Kurt L. Kalbfleisch sold 9,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $4.70, for a total transaction of $42,300.00. Following the completion of the transaction, the chief executive officer directly owned 55,896 shares in the company, valued at $262,711.20. This trade represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sphere 3D

Several institutional investors and hedge funds have recently modified their holdings of ANY. XTX Topco Ltd boosted its holdings in Sphere 3D by 51.7% during the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after acquiring an additional 24,424 shares during the period. BNP Paribas Financial Markets increased its stake in Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after purchasing an additional 37,427 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Sphere 3D during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 17.28% of the company’s stock.

About Sphere 3D

Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.

Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.