Sphere 3D Corp. (ANY) Upgraded to Buy by Zacks Investment Research
Sphere 3D Corp. (NASDAQ:ANY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $0.50 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 7.99% from the stock’s current price.
According to Zacks, “Sphere 3D Corporation is a virtualization technology solution provider. The Company is engaged in the development, and sale of Sphere 3D’s Glassware 2.0 ultra-thin client technology, that allows access to third party software on any Cloud connected device. Sphere 3D also develops V3 systems appliances, a series of servers that are used for virtualization; and provides Desktop Cloud Orchestrator software, which allows administrators to manage local, cloud hosted, or hybrid virtual desktop deployments. It caters to the cloud computing market. Sphere 3D Inc. is based in Mississauga, Canada. “
Sphere 3D Corp. (NASDAQ:ANY) traded up 5.8747% during trading on Wednesday, reaching $0.4902. 212,093 shares of the company’s stock traded hands. Sphere 3D Corp. has a 1-year low of $0.40 and a 1-year high of $3.44. The firm has a 50 day moving average of $0.58 and a 200 day moving average of $0.90. The firm’s market capitalization is $25.01 million.
Sphere 3D Corp. (NASDAQ:ANY) last released its earnings results on Thursday, August 11th. The company reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by $0.01. Sphere 3D Corp. had a negative return on equity of 37.54% and a negative net margin of 60.50%. The firm earned $19.60 million during the quarter, compared to analyst estimates of $20.40 million. During the same quarter last year, the business posted ($0.15) EPS. The firm’s revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Sphere 3D Corp. will post ($0.72) EPS for the current year.
A hedge fund recently bought a new stake in Sphere 3D Corp. stock. Harber Asset Management LLC purchased a new position in Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 218,464 shares of the company’s stock, valued at approximately $175,000. Harber Asset Management LLC owned about 0.44% of Sphere 3D Corp. at the end of the most recent quarter. Hedge funds and other institutional investors own 17.09% of the company’s stock.
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