Sphere 3D (NASDAQ:ANY) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Sphere 3D Corp. (NASDAQ:ANY) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.27 and traded as low as $1.2701. Sphere 3D shares last traded at $1.35, with a volume of 94,848 shares traded.

Analysts Set New Price Targets

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

Sphere 3D Trading Up 3.1%

The stock’s fifty day simple moving average is $3.12 and its 200 day simple moving average is $5.27. The company has a market cap of $4.58 million, a price-to-earnings ratio of -0.18 and a beta of 3.75.

Insider Buying and Selling at Sphere 3D

In related news, CEO Kurt L. Kalbfleisch sold 9,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $4.70, for a total value of $42,300.00. Following the completion of the sale, the chief executive officer owned 55,896 shares of the company’s stock, valued at approximately $262,711.20. This represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Sphere 3D

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Sphere 3D in the 4th quarter valued at approximately $37,000. XTX Topco Ltd raised its position in shares of Sphere 3D by 51.7% during the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after buying an additional 24,424 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in 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 acquiring an additional 37,427 shares during the last quarter. 17.28% of the stock is owned by hedge funds and other 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.