Sphere 3D (NASDAQ:ANY) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Sphere 3D Corp. (NASDAQ:ANY) passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.64 and traded as low as $1.92. Sphere 3D shares last traded at $2.09, with a volume of 875,974 shares traded.

Analyst Upgrades and Downgrades

ANY has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings raised shares of Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Sphere 3D presently has a consensus rating of “Sell”.

Sphere 3D Stock Performance

The company has a market cap of $8.86 million, a PE ratio of -0.60 and a beta of 3.48. The company’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.26.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Friday, May 8th. The technology company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.46). Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%. The firm had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $2.90 million.

Institutional Investors Weigh In On Sphere 3D

Several large investors have recently added to or reduced their stakes in ANY. Armistice Capital LLC bought a new stake in Sphere 3D in the 4th quarter valued at about $465,000. Squarepoint Ops LLC bought a new position in Sphere 3D during the fourth quarter worth about $113,000. Jane Street Group LLC bought a new stake in shares of Sphere 3D in the fourth quarter valued at approximately $37,000. XTX Topco Ltd raised its position in shares of Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake 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 valued at $37,000 after buying an additional 37,427 shares in the last quarter. 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.