Zacks Investment Research lowered shares of Sphere 3D Corp. (NASDAQ:ANY) from a hold rating to a sell rating in a research note released on Thursday.

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. “

Separately, ValuEngine cut shares of Sphere 3D Corp. from a sell rating to a strong sell rating in a report on Tuesday, August 1st.

Sphere 3D Corp. (NASDAQ ANY) opened at 3.55 on Thursday. The stock’s market cap is $15.50 million. The company has a 50 day moving average price of $4.42 and a 200 day moving average price of $5.27. Sphere 3D Corp. has a 52 week low of $2.44 and a 52 week high of $23.00.

Sphere 3D Corp. (NASDAQ:ANY) last issued its earnings results on Monday, August 14th. The technology company reported ($0.64) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.50) by $0.86. Sphere 3D Corp. had a negative net margin of 84.35% and a negative return on equity of 100.71%. The company had revenue of $19.44 million during the quarter, compared to analysts’ expectations of $22.40 million. Analysts expect that Sphere 3D Corp. will post ($7.95) EPS for the current fiscal year.

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An institutional investor recently raised its position in Sphere 3D Corp. stock. Cyrus Capital Partners L.P. increased its position in shares of Sphere 3D Corp. (NASDAQ:ANY) by 40.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,230,440 shares of the technology company’s stock after buying an additional 4,407,914 shares during the period. Sphere 3D Corp. accounts for 0.4% of Cyrus Capital Partners L.P.’s holdings, making the stock its 10th largest position. Cyrus Capital Partners L.P. owned approximately 370.75% of Sphere 3D Corp. worth $2,939,000 at the end of the most recent quarter.

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