Sphere 3D (NASDAQ:ANY) Stock Price Passes Below Fifty Day Moving Average of $1.95

Sphere 3D Corp. (NASDAQ:ANY) shares crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $1.95 and traded as low as $1.39. Sphere 3D shares last traded at $1.47, with a volume of 771,705 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Sphere 3D from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of Sphere 3D in a research report on Thursday, December 28th.

Sphere 3D Stock Down 3.5 %

The company has a market capitalization of $24.21 million, a price-to-earnings ratio of -0.70 and a beta of 2.81. The company’s 50 day simple moving average is $1.93 and its two-hundred day simple moving average is $1.68.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings results on Wednesday, March 13th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.36). The company had revenue of $7.69 million during the quarter, compared to analysts’ expectations of $7.70 million. Sphere 3D had a negative return on equity of 75.32% and a negative net margin of 106.85%. Analysts anticipate that Sphere 3D Corp. will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of Sphere 3D in the fourth quarter valued at about $57,000. XTX Topco Ltd acquired a new stake in shares of Sphere 3D in the first quarter valued at about $43,000. BNP Paribas Arbitrage SA acquired a new stake in shares of Sphere 3D in the first quarter valued at about $48,000. Vanguard Group Inc. acquired a new stake in shares of Sphere 3D in the third quarter valued at about $110,000. Finally, Virtu Financial LLC grew its position in shares of Sphere 3D by 537.3% in the first quarter. Virtu Financial LLC now owns 122,323 shares of the technology company’s stock valued at $257,000 after purchasing an additional 103,130 shares during the period. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Sphere 3D Company Profile

Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. The company also provides data management and desktop and application virtualization solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional services organization.