Shares of Sphere 3D Corp. (NASDAQ:ANY) fell 14.6% during mid-day trading on Tuesday . The company traded as low as $2.51 and last traded at $2.63. 758,430 shares traded hands during trading, a decline of 65% from the average session volume of 2,183,627 shares. The stock had previously closed at $3.08.
The stock’s 50-day moving average is $2.55 and its 200-day moving average is $2.14. The firm has a market capitalization of $20.69 million, a price-to-earnings ratio of -1.93 and a beta of 1.91.
A number of hedge funds have recently added to or reduced their stakes in ANY. LPL Financial LLC bought a new stake in Sphere 3D during the 4th quarter worth approximately $39,000. Renaissance Technologies LLC bought a new stake in Sphere 3D during the 4th quarter worth approximately $151,000. Gladstone Institutional Advisory LLC bought a new stake in Sphere 3D during the 3rd quarter worth approximately $143,000. Finally, Morgan Stanley grew its holdings in Sphere 3D by 44.1% during the 3rd quarter. Morgan Stanley now owns 249,317 shares of the technology company’s stock worth $616,000 after acquiring an additional 76,268 shares during the last quarter. Institutional investors and hedge funds own 6.78% of the company’s stock.
Sphere 3D Corp. provides data management, and desktop and application virtualization solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications, virtual desktops, virtual storage, and physical hyper-converged platforms.
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