Sphere 3D (NASDAQ:ANY) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Sphere 3D Corp. (NASDAQ:ANY) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $2.24 and traded as low as $1.60. Sphere 3D shares last traded at $1.83, with a volume of 843,461 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Sphere 3D currently has a consensus rating of “Hold” and an average price target of $30.00.

Sphere 3D Stock Up 0.5%

The stock has a market capitalization of $6.17 million, a PE ratio of -0.24 and a beta of 3.79. The company has a 50-day moving average of $2.24 and a 200 day moving average of $4.79.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings data on Friday, March 6th. The technology company reported ($3.27) earnings per share for the quarter. Sphere 3D had a negative net margin of 167.47% and a negative return on equity of 61.18%. The firm had revenue of $2.72 million during the quarter. As a group, equities analysts predict that Sphere 3D Corp. will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Sphere 3D

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

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.