Sphere 3D (NASDAQ:ANY) Share Price Breaks Above 50-Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY)’s stock price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $2.31 and traded as high as $2.94. Sphere 3D shares last traded at $2.88, with a volume of 301,633 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on ANY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a research report on Monday, September 14th. Wall Street Zen downgraded Sphere 3D from a “sell” rating to a “strong sell” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Sphere 3D Price Performance

The firm has a market cap of $25.06 million, a price-to-earnings ratio of -0.78 and a beta of 3.32. The firm’s 50 day moving average price is $2.34 and its two-hundred day moving average price is $2.20.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings results on Friday, August 14th. The technology company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.49). Sphere 3D had a negative return on equity of 111.12% and a negative net margin of 332.50%.The business had revenue of $2.45 million during the quarter, compared to the consensus estimate of $3.00 million.

About Sphere 3D

Sphere 3D Corp. (NASDAQ: ANY) is a digital-asset mining company focused primarily on Bitcoin mining. The company operates and deploys specialized mining equipment used to validate transactions and secure the Bitcoin blockchain, with mining activity conducted through its own infrastructure and third-party hosting arrangements.

The company was originally involved in enterprise virtualization and data-management technologies, including its Glassware platform. Sphere 3D later shifted its strategic focus toward cryptocurrency mining and digital-asset infrastructure.