Zacks Investment Research upgraded shares of Sphere 3D Corp. (NASDAQ:ANY) from a hold rating to a buy rating in a research report released on Wednesday. The brokerage currently has $0.50 price objective on the stock.
According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “
Shares of Sphere 3D Corp. (NASDAQ:ANY) traded up 1.9176% during mid-day trading on Wednesday, reaching $0.4996. The company had a trading volume of 27,368 shares. The firm has a 50 day moving average of $0.57 and a 200-day moving average of $0.90. Sphere 3D Corp. has a one year low of $0.40 and a one year high of $3.44. The stock’s market capitalization is $25.49 million.
Sphere 3D Corp. (NASDAQ:ANY) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by $0.01. Sphere 3D Corp. had a negative net margin of 60.50% and a negative return on equity of 37.54%. The business had revenue of $19.60 million for the quarter, compared to analysts’ expectations of $20.40 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Analysts forecast that Sphere 3D Corp. will post ($0.72) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Sphere 3D Corp. stock. Harber Asset Management LLC bought a new position in Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 218,464 shares of the company’s stock, valued at approximately $175,000. Harber Asset Management LLC owned 0.44% of Sphere 3D Corp. as of its most recent filing with the SEC. 17.09% of the stock is currently owned by institutional investors.
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