Sphere 3D (NASDAQ:ANY) Downgraded by Wall Street Zen to Strong Sell

Wall Street Zen lowered shares of Sphere 3D (NASDAQ:ANY) from a sell rating to a strong sell rating in a research report released on Saturday.

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

Sphere 3D Stock Up 29.2%

Shares of NASDAQ ANY opened at $2.61 on Friday. Sphere 3D has a 12 month low of $1.08 and a 12 month high of $12.60. The company has a market cap of $22.71 million, a P/E ratio of -0.71 and a beta of 3.47. The business’s 50 day moving average is $2.36 and its two-hundred day moving average is $2.02.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Friday, August 14th. The technology company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.49). The business had revenue of $2.45 million during the quarter, compared to the consensus estimate of $3.00 million. Sphere 3D had a negative net margin of 332.50% and a negative return on equity of 111.12%.

Hedge Funds Weigh In On Sphere 3D

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position 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 period. Jane Street Group LLC bought a new position in shares of Sphere 3D during the fourth quarter valued at $37,000. Armistice Capital LLC bought a new position in shares of Sphere 3D during the fourth quarter valued at $465,000. Squarepoint Ops LLC bought a new position in shares of Sphere 3D during the fourth quarter valued at $113,000. Finally, XTX Topco Ltd boosted its stake in shares of Sphere 3D by 51.7% in the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after purchasing an additional 24,424 shares in the last quarter. 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.