Sphere 3D (NASDAQ:ANY) Stock Passes Above Fifty Day Moving Average – What’s Next?

Sphere 3D Corp. (NASDAQ:ANY)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.55 and traded as high as $2.17. Sphere 3D shares last traded at $2.13, with a volume of 265,077 shares traded.

Analyst Ratings Changes

ANY has been the subject of several research analyst reports. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sphere 3D in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Sphere 3D Price Performance

The company has a 50-day moving average price of $1.55 and a two-hundred day moving average price of $2.97. The company has a market cap of $8.03 million, a PE ratio of -0.28 and a beta of 3.60.

Sphere 3D (NASDAQ:ANY) last issued its earnings results on Friday, March 6th. The technology company reported ($3.27) earnings per share for the quarter. Sphere 3D had a negative return on equity of 84.26% and a negative net margin of 192.13%.The company had revenue of $2.72 million during the quarter.

Institutional Investors Weigh In On Sphere 3D

Institutional investors and hedge funds have recently modified their holdings of the stock. Armistice Capital LLC purchased a new position in Sphere 3D in the fourth quarter valued at about $465,000. Squarepoint Ops LLC acquired a new stake in Sphere 3D during the 4th quarter valued at approximately $113,000. Jane Street Group LLC acquired a new stake in Sphere 3D during the 4th quarter valued at approximately $37,000. XTX Topco Ltd grew its stake in Sphere 3D by 678.6% during the 4th quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares in the last quarter. Finally, BNP Paribas Financial Markets grew 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 in the last quarter. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Sphere 3D Company Profile

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.