Sphere 3D (NASDAQ:ANY) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Sphere 3D (NASDAQ:ANY) from a hold rating to a sell rating in a report issued on Thursday.

Separately, HC Wainwright cut their price target on shares of 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 Stock Performance

NASDAQ:ANY opened at $0.88 on Thursday. Sphere 3D has a 1 year low of $0.57 and a 1 year high of $4.09. The stock has a market cap of $18.25 million, a P/E ratio of -0.48 and a beta of 2.81. The stock has a 50-day simple moving average of $0.96 and a 200-day simple moving average of $1.14.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sphere 3D stock. Crescent Grove Advisors LLC bought a new stake in Sphere 3D Corp. (NASDAQ:ANY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 17,005 shares of the technology company’s stock, valued at approximately $26,000. Crescent Grove Advisors LLC owned about 0.10% of Sphere 3D at the end of the most recent quarter. 17.28% of the stock is owned by institutional investors.

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.