StockNews.com Upgrades Sphere 3D (NASDAQ:ANY) to “Hold”

Sphere 3D (NASDAQ:ANY) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

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

Sphere 3D Price Performance

NASDAQ ANY opened at $0.89 on Friday. 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 $16.31 million, a P/E ratio of -0.48 and a beta of 2.81. The company has a 50-day moving average price of $0.94 and a 200-day moving average price of $1.11.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, topping 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 research analysts anticipate that Sphere 3D will post -0.7 EPS for the current year.

Institutional Trading of Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. Crescent Grove Advisors LLC purchased a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned 0.10% of Sphere 3D at the end of the most recent reporting period. Hedge funds and other 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.