Sphere 3D (NASDAQ:ANY) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Sphere 3D Corp. (NASDAQ:ANY)’s stock price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.90 and traded as high as $1.09. Sphere 3D shares last traded at $1.04, with a volume of 641,191 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ANY. StockNews.com upgraded Sphere 3D from a “sell” rating to a “hold” rating in a research note on Friday, September 20th. HC Wainwright lowered 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

The company has a fifty day moving average of $0.91 and a two-hundred day moving average of $1.02. The firm has a market capitalization of $19.04 million, a price-to-earnings ratio of -0.56 and a beta of 2.81.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Tuesday, August 13th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.67 million during the quarter, compared to analysts’ expectations of $5.30 million. Equities analysts forecast that Sphere 3D Corp. will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Sphere 3D

An institutional investor recently bought a new position in Sphere 3D stock. XTX Topco Ltd purchased a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D at the end of the most recent quarter. Institutional investors own 17.28% of the company’s stock.

About Sphere 3D

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.