Sphere 3D (NASDAQ:ANY) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Sphere 3D Corp. (NASDAQ:ANY) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.62 and traded as high as $0.90. Sphere 3D shares last traded at $0.85, with a volume of 2,252,282 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Sphere 3D from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $3.00.

Sphere 3D Trading Up 15.4%

The stock has a market capitalization of $24.17 million, a PE ratio of -1.40 and a beta of 3.45. The business’s 50 day moving average is $0.62 and its 200 day moving average is $0.62.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Tuesday, August 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $3.02 million during the quarter, compared to the consensus estimate of $4.60 million. Sphere 3D had a negative net margin of 131.43% and a negative return on equity of 47.27%. As a group, analysts anticipate that Sphere 3D Corp. will post -0.58 EPS for the current year.

Institutional Trading of Sphere 3D

Several institutional investors and hedge funds have recently made changes to their positions in ANY. Two Sigma Investments LP grew its holdings in shares of Sphere 3D by 92.0% in the fourth quarter. Two Sigma Investments LP now owns 34,595 shares of the technology company’s stock worth $33,000 after purchasing an additional 16,577 shares during the last quarter. Armistice Capital LLC boosted its position in Sphere 3D by 1.4% in the 1st quarter. Armistice Capital LLC now owns 2,204,934 shares of the technology company’s stock valued at $879,000 after buying an additional 30,934 shares during the period. Finally, XTX Topco Ltd grew its stake in Sphere 3D by 51.7% in the 2nd 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 in the last quarter. 17.28% of the stock is currently 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.