Zacks Investment Research upgraded shares of Sphere 3D Corp. (NASDAQ:ANY) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $0.50 price objective on the stock.

According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “

Sphere 3D Corp. (NASDAQ:ANY) opened at 0.54 on Wednesday. The stock’s market capitalization is $27.55 million. Sphere 3D Corp. has a 52 week low of $0.40 and a 52 week high of $3.24. The firm has a 50 day moving average of $0.56 and a 200-day moving average of $0.89.

Sphere 3D Corp. (NASDAQ:ANY) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by $0.01. The business earned $19.60 million during the quarter, compared to analysts’ expectations of $20.40 million. Sphere 3D Corp. had a negative net margin of 60.50% and a negative return on equity of 37.54%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. On average, equities analysts predict that Sphere 3D Corp. will post ($0.72) EPS for the current year.

A hedge fund recently bought a new stake in Sphere 3D Corp. stock. Harber Asset Management LLC purchased a new position in Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent filing with the SEC. The fund purchased 218,464 shares of the company’s stock, valued at approximately $175,000. Harber Asset Management LLC owned about 0.44% of Sphere 3D Corp. at the end of the most recent reporting period. 17.09% of the stock is currently owned by hedge funds and other institutional investors.

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