Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 12,885 shares, a drop of 87.0% from the June 30th total of 99,332 shares. Based on an average daily volume of 250,326 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On Sphere 3D

Several institutional investors and hedge funds have recently bought and sold shares of ANY. XTX Topco Ltd boosted its position in Sphere 3D by 51.7% in the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after buying an additional 24,424 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after purchasing an additional 37,427 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Sphere 3D during the 4th quarter valued at approximately $37,000. Squarepoint Ops LLC purchased a new position in Sphere 3D during the fourth quarter valued at $113,000. Finally, Armistice Capital LLC purchased a new position in shares of Sphere 3D in the fourth quarter valued at approximately $465,000. 17.28% of the stock is owned by hedge funds and other institutional investors.

Sphere 3D Price Performance

Shares of NASDAQ:ANY traded up $0.14 during trading on Friday, reaching $1.91. 6,471,550 shares of the company were exchanged, compared to its average volume of 473,675. The business’s fifty day simple moving average is $2.61 and its 200-day simple moving average is $2.14. The firm has a market capitalization of $8.10 million, a PE ratio of -0.55 and a beta of 3.48. Sphere 3D has a 12-month low of $1.08 and a 12-month high of $12.60.

Sphere 3D (NASDAQ:ANY) last posted its quarterly 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). The firm had revenue of $1.92 million for the quarter, compared to the consensus estimate of $2.90 million. Sphere 3D had a negative return on equity of 78.14% and a negative net margin of 163.45%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.