Zacks Investment Research Downgrades Sphere 3D Corp. (ANY) to Hold
Sphere 3D Corp. (NASDAQ:ANY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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) opened at 0.59 on Tuesday. Sphere 3D Corp. has a 12 month low of $0.40 and a 12 month high of $2.48. The stock’s market cap is $30.10 million. The company’s 50-day moving average price is $0.53 and its 200-day moving average price is $0.80.
Sphere 3D Corp. (NASDAQ:ANY) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $19.60 million for the quarter, compared to analysts’ expectations of $20.40 million. During the same period in the prior year, the company earned ($0.15) EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts forecast that Sphere 3D Corp. will post ($0.72) earnings per share for the current year.
A hedge fund recently bought a new stake in Sphere 3D Corp. stock. Harber Asset Management LLC acquired a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 reporting period. Hedge funds and other institutional investors own 17.08% of the company’s stock.
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