Sphere 3D (NASDAQ:ANY) Shares Pass Above 50 Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $2.39 and traded as high as $3.17. Sphere 3D shares last traded at $2.95, with a volume of 221,283 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ANY. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings upgraded Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Sphere 3D Stock Performance

The stock’s 50-day moving average is $2.44 and its 200 day moving average is $2.38. The stock has a market capitalization of $11.58 million, a PE ratio of -0.78 and a beta of 3.63.

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

Institutional Trading of Sphere 3D

Large investors have recently made changes to their positions in the company. 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 worth $39,000 after buying an additional 114,460 shares during the last quarter. Armistice Capital LLC acquired a new stake in shares of Sphere 3D in the fourth quarter valued at approximately $465,000. Squarepoint Ops LLC acquired a new stake in shares of Sphere 3D in the fourth quarter valued at approximately $113,000. Jane Street Group LLC purchased a new position in shares of Sphere 3D during the fourth quarter worth approximately $37,000. Finally, BNP Paribas Financial Markets grew its position in shares of Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after acquiring an additional 37,427 shares during the last quarter. 17.28% of the stock is 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.