Sphere 3D (NASDAQ:ANY) Announces Earnings Results, Misses Expectations By $0.02 EPS

Sphere 3D (NASDAQ:ANY) released its quarterly earnings results on Tuesday. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02), Zacks reports. Sphere 3D had a negative return on equity of 47.27% and a negative net margin of 131.43%.

Sphere 3D Stock Down 7.3%

Shares of NASDAQ ANY opened at $0.63 on Wednesday. The stock has a market capitalization of $17.86 million, a PE ratio of -1.03 and a beta of 3.45. The firm has a fifty day moving average of $0.74 and a 200-day moving average of $0.68. Sphere 3D has a 52-week low of $0.36 and a 52-week high of $1.90.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. XTX Topco Ltd lifted its holdings in shares of Sphere 3D Corp. (NASDAQ:ANY) by 51.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 71,682 shares of the technology company’s stock after acquiring an additional 24,424 shares during the quarter. XTX Topco Ltd owned 0.25% of Sphere 3D worth $42,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 17.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ANY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sphere 3D in a report on Wednesday, October 8th. Wall Street Zen upgraded Sphere 3D from a “strong sell” rating to a “hold” rating in a report on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.00.

Sphere 3D Company Profile

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.