Sphere 3D (NASDAQ:ANY) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sphere 3D (NASDAQ:ANY) posted its quarterly earnings results on Tuesday. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02), Zacks reports. Sphere 3D had a negative return on equity of 47.27% and a negative net margin of 131.43%.

Sphere 3D Stock Performance

Shares of ANY traded down $0.01 on Thursday, reaching $0.58. The stock had a trading volume of 191,545 shares, compared to its average volume of 685,966. The firm has a market capitalization of $16.34 million, a price-to-earnings ratio of -0.95 and a beta of 3.34. The company has a 50-day simple moving average of $0.74 and a 200-day simple moving average of $0.68. Sphere 3D has a 12-month low of $0.36 and a 12-month high of $1.90.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, October 8th. Wall Street Zen upgraded Sphere 3D from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sphere 3D has a consensus rating of “Hold” and an average target price of $3.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sphere 3D stock. XTX Topco Ltd raised its stake in shares of Sphere 3D Corp. (NASDAQ:ANY) by 51.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,682 shares of the technology company’s stock after buying an additional 24,424 shares during the quarter. XTX Topco Ltd owned about 0.25% of Sphere 3D worth $42,000 at the end of the most recent quarter. 17.28% of the stock is owned by institutional investors.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.