Sphere 3D (NASDAQ:ANY) Shares Cross Below Fifty Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.39 and traded as low as $0.27. Sphere 3D shares last traded at $0.2770, with a volume of 476,001 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sphere 3D presently has an average rating of “Hold” and a consensus price target of $3.00.

Sphere 3D Trading Up 3.7%

The company has a 50 day simple moving average of $0.39 and a two-hundred day simple moving average of $0.57. The firm has a market capitalization of $9.34 million, a P/E ratio of -0.36 and a beta of 3.65.

Sphere 3D (NASDAQ:ANY) last released its earnings results on Tuesday, November 4th. The technology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sphere 3D had a negative net margin of 167.47% and a negative return on equity of 61.18%. The company had revenue of $2.62 million for the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts expect that Sphere 3D Corp. will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kurt L. Kalbfleisch sold 90,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $0.47, for a total transaction of $42,300.00. Following the sale, the chief executive officer owned 558,964 shares in the company, valued at approximately $262,713.08. The trade was a 13.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sphere 3D

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

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.