Sphere 3D (NASDAQ:ANY) Downgraded by StockNews.com to “Sell”

Sphere 3D (NASDAQ:ANY) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Separately, HC Wainwright reduced their target price on shares of Sphere 3D from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, August 19th.

Sphere 3D Stock Performance

Shares of NASDAQ ANY traded up $0.13 during mid-day trading on Tuesday, reaching $1.75. 2,504,419 shares of the company’s stock were exchanged, compared to its average volume of 738,544. Sphere 3D has a 52-week low of $0.57 and a 52-week high of $4.09. The company’s 50-day moving average is $0.96 and its 200-day moving average is $1.02. The firm has a market capitalization of $36.30 million, a price-to-earnings ratio of -1.34 and a beta of 2.80.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, beating the consensus estimate 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%. As a group, equities analysts predict that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

Institutional Trading of Sphere 3D

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

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.