Sphere 3D (NASDAQ:ANY) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Sphere 3D (NASDAQ:ANY) from a sell rating to a hold rating in a research report released on Friday morning.

Separately, HC Wainwright dropped their target price on Sphere 3D from $4.00 to $3.00 and set a buy rating for the company in a report on Monday, August 19th.

Sphere 3D Price Performance

Shares of ANY opened at $0.89 on Friday. Sphere 3D has a 1 year low of $0.57 and a 1 year high of $4.09. The stock has a 50 day simple moving average of $0.94 and a two-hundred day simple moving average of $1.10. The firm has a market cap of $16.31 million, a P/E ratio of -0.48 and a beta of 2.81.

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

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Crescent Grove Advisors LLC bought a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 quarter. 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.