Sphere 3D Corp. (NASDAQ:ANY) Short Interest Down 37.7% in March

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 355,300 shares, a drop of 37.7% from the February 28th total of 570,200 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 443,900 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Sphere 3D in a research report on Tuesday, March 25th. They issued a “sell” rating on the stock.

Sphere 3D Stock Down 4.8 %

Shares of ANY opened at $0.40 on Monday. The company has a market cap of $10.16 million, a P/E ratio of -0.50 and a beta of 3.11. Sphere 3D has a fifty-two week low of $0.39 and a fifty-two week high of $1.90. The firm’s 50 day moving average price is $0.68 and its 200 day moving average price is $0.96.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Friday, March 28th. The technology company reported ($0.29) earnings per share (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 during the quarter, compared to analyst estimates of $6.72 million. Research analysts forecast that Sphere 3D will post -0.58 earnings per share for the current year.

Institutional Trading of Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. Two Sigma Securities LLC bought a new stake in Sphere 3D Corp. (NASDAQ:ANY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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 reporting period. Institutional investors and hedge funds 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.