Sphere 3D (NASDAQ:ANY) Posts Quarterly Earnings Results, Misses Estimates By $0.46 EPS

Sphere 3D (NASDAQ:ANY) issued its quarterly earnings results on Friday. The technology company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46), FiscalAI reports. The firm had revenue of $1.92 million during the quarter, compared to the consensus estimate of $2.90 million. Sphere 3D had a negative net margin of 192.13% and a negative return on equity of 84.26%.

Sphere 3D Stock Down 5.8%

ANY stock traded down $0.14 during midday trading on Friday, reaching $2.29. The company had a trading volume of 143,572 shares, compared to its average volume of 443,402. The firm has a market capitalization of $8.63 million, a PE ratio of -0.30 and a beta of 3.60. The stock has a 50 day moving average price of $1.59 and a 200 day moving average price of $2.93. Sphere 3D has a fifty-two week low of $1.08 and a fifty-two week high of $12.60.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ANY. Weiss Ratings restated a “sell (e+)” rating on shares of Sphere 3D in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Institutional Trading of Sphere 3D

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in Sphere 3D during the 4th quarter worth $37,000. BNP Paribas Financial Markets lifted its stake in Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after buying an additional 37,427 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Sphere 3D by 678.6% during the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after acquiring an additional 114,460 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Sphere 3D during the fourth quarter valued at $113,000. Finally, Armistice Capital LLC bought a new position in Sphere 3D in the 4th quarter worth about $465,000. Institutional investors own 17.28% of the company’s stock.

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.