Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Increases By 2,511.1%

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 336,444 shares, a growth of 2,511.1% from the July 15th total of 12,885 shares. Based on an average daily volume of 1,463,475 shares, the days-to-cover ratio is presently 0.2 days. Approximately 4.2% of the shares of the stock are sold short.

Sphere 3D Trading Up 5.9%

Shares of ANY stock traded up $0.12 during trading hours on Tuesday, reaching $2.17. 321,047 shares of the stock were exchanged, compared to its average volume of 1,633,241. The firm has a market capitalization of $18.70 million, a price-to-earnings ratio of -0.62 and a beta of 3.47. Sphere 3D has a 12-month low of $1.08 and a 12-month high of $12.60. The company’s 50-day moving average price is $2.61 and its 200-day moving average price is $2.04.

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

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Sphere 3D

A number of institutional investors have recently modified their holdings of the company. Armistice Capital LLC purchased a new stake in Sphere 3D during the 4th quarter worth approximately $465,000. Squarepoint Ops LLC acquired a new stake in shares of Sphere 3D during the fourth quarter worth $113,000. XTX Topco Ltd grew its holdings in shares of Sphere 3D by 678.6% during the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after buying an additional 114,460 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Sphere 3D during the fourth quarter valued at $37,000. Finally, BNP Paribas Financial Markets increased its position in shares of Sphere 3D by 294.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after acquiring an additional 37,427 shares during the period. 17.28% of the stock is currently owned by institutional investors.

About Sphere 3D

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.