Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Expands By 2,511.1%

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 336,444 shares, a growth of 2,511.1% from the July 15th total of 12,885 shares. Based on an average trading volume of 1,463,475 shares, the days-to-cover ratio is presently 0.2 days. Approximately 4.2% of the shares of the company are short sold.

Sphere 3D Stock Up 5.9%

Shares of NASDAQ ANY traded up $0.12 during midday trading on Tuesday, hitting $2.17. The stock had a trading volume of 321,047 shares, compared to its average volume of 1,633,241. The company has a market capitalization of $18.70 million, a PE ratio of -0.62 and a beta of 3.47. The stock has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $2.04. Sphere 3D has a 1 year low of $1.08 and a 1 year high of $12.60.

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Sphere 3D

A number of hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Sphere 3D by 294.7% in the third 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 in the last quarter. XTX Topco Ltd grew its stake in 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 acquiring an additional 24,424 shares in the last quarter. Jane Street Group LLC acquired a new stake in Sphere 3D in the 4th quarter valued at about $37,000. Squarepoint Ops LLC acquired a new stake in Sphere 3D in the 4th quarter valued at about $113,000. Finally, Armistice Capital LLC purchased a new position in Sphere 3D in the 4th quarter worth approximately $465,000. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Sphere 3D Company Profile

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.