Sphere 3D (NASDAQ:ANY) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened

Sphere 3D Corp. (NASDAQ:ANY)’s share price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 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 traded.

Analyst Ratings Changes

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

Sphere 3D Price Performance

The company has a market cap of $6.17 million, a price-to-earnings ratio of -0.24 and a beta of 3.79. The firm has a 50 day simple moving average of $2.24 and a 200-day simple moving average of $4.79.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new stake in shares of Sphere 3D in the 4th quarter valued at approximately $465,000. Squarepoint Ops LLC acquired a new position in shares of Sphere 3D in the 4th quarter worth approximately $113,000. Jane Street Group LLC purchased a new position in shares of Sphere 3D during the 4th quarter worth approximately $37,000. XTX Topco Ltd boosted its position in shares of 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 purchasing an additional 114,460 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Sphere 3D by 294.7% in the 3rd 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. Hedge funds and other 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.