Sphere 3D (NASDAQ:ANY) Releases Quarterly Earnings Results, Misses Expectations By $0.49 EPS

Sphere 3D (NASDAQ:ANY) issued its quarterly earnings results on Friday. The technology company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.49), Zacks reports. Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%.

Sphere 3D Price Performance

Sphere 3D stock traded up $0.01 during trading hours on Friday, hitting $2.10. The company had a trading volume of 152,679 shares, compared to its average volume of 1,604,709. The firm has a market capitalization of $18.10 million, a P/E ratio of -0.60 and a beta of 3.47. The firm’s fifty day moving average is $2.49 and its 200-day moving average is $2.04. Sphere 3D has a fifty-two week low of $1.08 and a fifty-two week high of $12.60.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Sphere 3D

Institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC acquired a new position in shares of Sphere 3D in the fourth quarter worth $465,000. Squarepoint Ops LLC acquired a new stake in Sphere 3D during the fourth quarter valued at $113,000. XTX Topco Ltd grew its stake in Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares in the last quarter. Jane Street Group LLC purchased a new position in Sphere 3D in the fourth quarter valued at about $37,000. Finally, BNP Paribas Financial Markets increased its position in Sphere 3D by 294.7% in the 3rd 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 last quarter. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

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.