Sphere 3D Stock Scheduled to Reverse Split on Tuesday, February 10th (NASDAQ:ANY)

Sphere 3D Corp. (NASDAQ:ANY)’s stock is set to reverse split on the morning of Tuesday, February 10th. The 1-10 reverse split was announced on Friday, February 6th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, February 9th.

Sphere 3D Trading Down 2.8%

Shares of ANY stock traded down $0.01 during mid-day trading on Friday, reaching $0.18. The stock had a trading volume of 3,551,226 shares, compared to its average volume of 596,596. The firm has a market capitalization of $6.04 million, a PE ratio of -0.23 and a beta of 3.75. The stock’s 50-day moving average price is $0.35 and its two-hundred day moving average price is $0.55. Sphere 3D has a 52-week low of $0.16 and a 52-week high of $1.26.

Sphere 3D (NASDAQ:ANY) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $2.62 million for the quarter, compared to analysts’ expectations of $3.00 million. Sphere 3D had a negative return on equity of 61.18% and a negative net margin of 167.47%. On average, equities research analysts forecast that Sphere 3D will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.00.

Insider Buying and Selling at Sphere 3D

In related news, CEO Kurt L. Kalbfleisch sold 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $0.47, for a total transaction of $42,300.00. Following the completion of the transaction, the chief executive officer owned 558,964 shares of the company’s stock, valued at $262,713.08. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sphere 3D

An institutional investor recently raised its position in Sphere 3D stock. BNP Paribas Financial Markets grew its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 294.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,127 shares of the technology company’s stock after purchasing an additional 37,427 shares during the period. BNP Paribas Financial Markets owned about 0.15% of Sphere 3D worth $37,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Sphere 3D Company Profile

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.