Sphere 3D (NASDAQ:ANY) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY) shares passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $2.00 and traded as high as $3.72. Sphere 3D shares last traded at $3.11, with a volume of 608,195 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on ANY shares. Weiss Ratings restated a “sell (e+)” rating on shares of Sphere 3D in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Sphere 3D to a “sell” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Sphere 3D Price Performance

The firm has a market cap of $13.19 million, a price-to-earnings ratio of -0.89 and a beta of 3.63. The company has a fifty day moving average price of $2.00 and a two-hundred day moving average price of $2.52.

Sphere 3D (NASDAQ:ANY) last released its earnings results on Friday, May 8th. The technology company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46). Sphere 3D had a negative return on equity of 78.14% and a negative net margin of 163.45%.The firm had revenue of $1.92 million for the quarter, compared to analyst estimates of $2.90 million.

Institutional Trading of Sphere 3D

Hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC acquired a new stake in Sphere 3D during the fourth quarter valued at approximately $465,000. Squarepoint Ops LLC acquired a new position in Sphere 3D in the fourth quarter worth approximately $113,000. Jane Street Group LLC acquired a new position in Sphere 3D in the fourth quarter worth approximately $37,000. XTX Topco Ltd increased its holdings in shares of Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after buying an additional 114,460 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after buying an additional 37,427 shares in the last quarter. 17.28% of the stock is currently 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.