Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Increase in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 425,770 shares, a growth of 95.2% from the February 26th total of 218,071 shares. Currently, 13.1% of the company’s stock are sold short. Based on an average daily volume of 2,773,809 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a report on Wednesday, January 21st. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.00.

Sphere 3D Trading Down 4.6%

ANY traded down $0.07 during trading on Friday, hitting $1.34. The stock had a trading volume of 4,364 shares, compared to its average volume of 607,101. The firm has a market cap of $4.50 million, a PE ratio of -0.17 and a beta of 3.79. Sphere 3D has a 12 month low of $1.08 and a 12 month high of $12.60. The company has a 50 day simple moving average of $1.82 and a 200-day simple moving average of $4.43.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Friday, March 6th. The technology company reported ($3.27) earnings per share (EPS) for the quarter. The business had revenue of $2.72 million during the quarter. Sphere 3D had a negative net margin of 167.47% and a negative return on equity of 61.18%. As a group, sell-side analysts anticipate that Sphere 3D will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere 3D

Several hedge funds have recently modified their holdings of ANY. XTX Topco Ltd grew its stake in shares of Sphere 3D by 51.7% in the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after acquiring an additional 24,424 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Sphere 3D by 294.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after purchasing an additional 37,427 shares during the last quarter. Jane Street Group LLC bought a new stake in Sphere 3D in the 4th quarter valued at $37,000. Squarepoint Ops LLC acquired a new stake in Sphere 3D in the 4th quarter worth $113,000. Finally, Armistice Capital LLC acquired a new stake in Sphere 3D in the 4th quarter worth $465,000. 17.28% of the stock is owned by institutional investors.

About Sphere 3D

Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.

Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.