Sphere 3D Corp. (NASDAQ:ANY) Short Interest Update

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 570,200 shares, a growth of 38.4% from the February 13th total of 412,100 shares. Based on an average daily trading volume, of 559,300 shares, the short-interest ratio is presently 1.0 days. Approximately 2.4% of the shares of the company are sold short.

Sphere 3D Stock Down 5.6 %

Shares of Sphere 3D stock opened at $0.49 on Friday. Sphere 3D has a 52-week low of $0.48 and a 52-week high of $1.90. The company’s 50-day simple moving average is $0.80 and its 200-day simple moving average is $0.98. The firm has a market cap of $12.55 million, a price-to-earnings ratio of -0.62 and a beta of 3.11.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Sphere 3D from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Sphere 3D in a research note on Monday, November 18th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Sphere 3D stock. Two Sigma Investments LP lifted its position in shares of Sphere 3D Corp. (NASDAQ:ANY) by 92.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,595 shares of the technology company’s stock after acquiring an additional 16,577 shares during the quarter. Two Sigma Investments LP owned 0.14% of Sphere 3D worth $33,000 at the end of the most recent quarter. 17.28% of the stock is currently owned by institutional investors.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.