Sphere 3D (NASDAQ:ANY) Share Price Crosses Above 50-Day Moving Average – Time to Sell?

Sphere 3D Corp. (NASDAQ:ANY)’s share price passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $2.46 and traded as high as $2.94. Sphere 3D shares last traded at $2.88, with a volume of 301,633 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ANY shares. Weiss Ratings restated a “sell (d-)” rating on shares of Sphere 3D in a research note on Monday, September 14th. Wall Street Zen cut Sphere 3D from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Sphere 3D presently has an average rating of “Sell”.

Sphere 3D Price Performance

The stock has a market capitalization of $25.06 million, a P/E ratio of -0.78 and a beta of 3.32. The company’s 50 day simple moving average is $2.46 and its two-hundred day simple moving average is $2.24.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings data on Friday, August 14th. The technology company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.49). Sphere 3D had a negative net margin of 332.50% and a negative return on equity of 111.12%. The firm had revenue of $2.45 million for the quarter, compared to analyst estimates of $3.00 million.

About Sphere 3D

Sphere 3D Corp. (NASDAQ: ANY) is a digital-asset mining company focused primarily on Bitcoin mining. The company operates and deploys specialized mining equipment used to validate transactions and secure the Bitcoin blockchain, with mining activity conducted through its own infrastructure and third-party hosting arrangements.

The company was originally involved in enterprise virtualization and data-management technologies, including its Glassware platform. Sphere 3D later shifted its strategic focus toward cryptocurrency mining and digital-asset infrastructure.