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

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 44,552 shares, a decline of 70.0% from the May 14th total of 148,645 shares. Based on an average daily trading volume, of 178,246 shares, the short-interest ratio is presently 0.2 days. Approximately 1.1% of the company’s shares are short sold.

Sphere 3D Stock Down 9.9%

Shares of ANY stock traded down $0.32 during mid-day trading on Friday, hitting $2.86. 274,123 shares of the stock were exchanged, compared to its average volume of 1,951,722. Sphere 3D has a 52-week low of $1.08 and a 52-week high of $12.60. The firm has a fifty day moving average of $2.06 and a 200 day moving average of $2.50. The company has a market cap of $12.11 million, a PE ratio of -0.83 and a beta of 3.63.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on ANY shares. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sphere 3D in a report on Monday, May 4th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of Sphere 3D

Large investors have recently modified their holdings of the business. Armistice Capital LLC purchased a new position in Sphere 3D during the fourth quarter worth approximately $465,000. Squarepoint Ops LLC bought a new stake in Sphere 3D in the 4th quarter valued at about $113,000. Jane Street Group LLC bought a new stake in Sphere 3D in the 4th quarter valued at about $37,000. XTX Topco Ltd raised its position in shares of Sphere 3D by 678.6% during the 4th quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock worth $39,000 after buying an additional 114,460 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Sphere 3D by 294.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after buying an additional 37,427 shares in the last quarter. 17.28% of the stock is currently owned by institutional investors and hedge funds.

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.