Sphere 3D (NASDAQ:ANY) Receives “Buy” Rating from HC Wainwright

Sphere 3D (NASDAQ:ANY)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $3.00 price target on the technology company’s stock. HC Wainwright’s target price would indicate a potential upside of 493.47% from the stock’s previous close.

Separately, StockNews.com began coverage on Sphere 3D in a research note on Wednesday. They issued a “sell” rating on the stock.

Sphere 3D Trading Down 8.1 %

Sphere 3D stock opened at $0.51 on Friday. Sphere 3D has a 1-year low of $0.38 and a 1-year high of $1.90. The company has a fifty day simple moving average of $0.64 and a 200 day simple moving average of $0.95. The company has a market cap of $13.23 million, a P/E ratio of -0.63 and a beta of 3.56.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Friday, March 28th. The technology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. The company had revenue of $2.64 million for the quarter, compared to analyst estimates of $6.72 million. On average, equities research analysts forecast that Sphere 3D will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Two Sigma Securities LLC purchased a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned about 0.13% of Sphere 3D at the end of the most recent quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

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.