Zacks Investment Research upgraded shares of Sphere 3D Corp. (NASDAQ:ANY) from a hold rating to a buy rating in a report published on Thursday, November 2nd. They currently have $2.75 target price on the technology company’s stock.
According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “
Separately, ValuEngine raised shares of Sphere 3D Corp. from a sell rating to a hold rating in a research note on Thursday, July 13th.
Sphere 3D Corp. (NASDAQ:ANY) traded down $0.26 on Thursday, hitting $2.77. 214,900 shares of the stock traded hands, compared to its average volume of 252,664. Sphere 3D Corp. has a one year low of $2.13 and a one year high of $23.00.
Sphere 3D Corp. (NASDAQ:ANY) last posted its earnings results on Monday, August 14th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.86. The firm had revenue of $19.44 million during the quarter, compared to analyst estimates of $22.40 million. Sphere 3D Corp. had a negative net margin of 32.22% and a negative return on equity of 62.03%. equities research analysts forecast that Sphere 3D Corp. will post -6.84 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Sphere 3D Corp. stock. Cyrus Capital Partners L.P. grew its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 40.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,230,440 shares of the technology company’s stock after buying an additional 4,407,914 shares during the quarter. Sphere 3D Corp. accounts for approximately 0.4% of Cyrus Capital Partners L.P.’s holdings, making the stock its 10th biggest holding. Cyrus Capital Partners L.P. owned 370.75% of Sphere 3D Corp. worth $2,939,000 at the end of the most recent quarter.
About Sphere 3D Corp.
Sphere 3D Corp. provides virtualization technologies and data management solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications, virtual desktops, virtual storage, and physical hyper-converged platforms.
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