Sphere 3D (NASDAQ:ANY) Issues Quarterly Earnings Results, Misses Estimates By $0.49 EPS

Sphere 3D (NASDAQ:ANY) issued its quarterly earnings results on Friday. The technology company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.49), Zacks reports. The firm had revenue of $2.45 million for the quarter, compared to the consensus estimate of $3.00 million. Sphere 3D had a negative return on equity of 78.14% and a negative net margin of 163.45%.

Sphere 3D Price Performance

Sphere 3D stock traded up $0.01 during mid-day trading on Friday, reaching $2.10. 152,679 shares of the company traded hands, compared to its average volume of 988,915. The firm has a market capitalization of $18.10 million, a price-to-earnings ratio of -0.60 and a beta of 3.47. The firm’s 50 day moving average price is $2.45 and its 200 day moving average price is $2.04. Sphere 3D has a 52-week low of $1.08 and a 52-week high of $12.60.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Sphere 3D

A number of institutional investors have recently added to or reduced their stakes in ANY. BNP Paribas Financial Markets grew 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 worth $37,000 after buying an additional 37,427 shares during the period. XTX Topco Ltd boosted its stake in Sphere 3D by 51.7% during the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after acquiring an additional 24,424 shares in the last quarter. Jane Street Group LLC bought a new stake in Sphere 3D during the fourth quarter worth about $37,000. Squarepoint Ops LLC purchased a new stake in Sphere 3D in the fourth quarter worth about $113,000. Finally, Armistice Capital LLC bought a new position in shares of Sphere 3D during the fourth quarter valued at approximately $465,000. Institutional investors own 17.28% of the company’s stock.

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.