Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Expands By 115.8%

Sphere 3D Corp. (NASDAQ:ANY) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 559,500 shares, an increase of 115.8% from the October 15th total of 259,300 shares. Based on an average trading volume of 504,400 shares, the short-interest ratio is currently 1.1 days. Approximately 2.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. HC Wainwright dropped their price target on shares of Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, August 19th. StockNews.com cut Sphere 3D from a “hold” rating to a “sell” rating in a research note on Tuesday.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd bought a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned 0.28% of Sphere 3D at the end of the most recent quarter. Institutional investors own 17.28% of the company’s stock.

Sphere 3D Price Performance

Sphere 3D stock traded up $0.04 during mid-day trading on Friday, reaching $1.49. 875,099 shares of the company traded hands, compared to its average volume of 748,016. Sphere 3D has a 52-week low of $0.57 and a 52-week high of $4.09. The firm has a market capitalization of $30.90 million, a price-to-earnings ratio of -1.18 and a beta of 2.80. The firm’s 50 day moving average price is $1.01 and its 200 day moving average price is $1.03.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. The business had revenue of $4.67 million during the quarter, compared to the consensus estimate of $5.30 million. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. On average, sell-side analysts anticipate that Sphere 3D will post -0.7 EPS for the current year.

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.