Sphere 3D (NASDAQ:ANY) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sphere 3D (NASDAQ:ANY) posted its earnings results on Tuesday. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02), Zacks reports. Sphere 3D had a negative net margin of 131.43% and a negative return on equity of 47.27%.

Sphere 3D Trading Down 7.3%

Shares of ANY traded down $0.05 during mid-day trading on Tuesday, reaching $0.63. The company had a trading volume of 692,829 shares, compared to its average volume of 688,143. The stock has a market cap of $17.86 million, a price-to-earnings ratio of -1.03 and a beta of 3.45. The firm has a fifty day simple moving average of $0.74 and a 200-day simple moving average of $0.68. Sphere 3D has a fifty-two week low of $0.36 and a fifty-two week high of $1.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere 3D in a report on Wednesday, October 8th. Wall Street Zen raised Sphere 3D from a “strong sell” rating to a “hold” rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.00.

Hedge Funds Weigh In On Sphere 3D

A hedge fund recently raised its position in Sphere 3D stock. XTX Topco Ltd lifted its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 51.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,682 shares of the technology company’s stock after acquiring an additional 24,424 shares during the period. XTX Topco Ltd owned approximately 0.25% of Sphere 3D worth $42,000 as of its most recent SEC filing. 17.28% of the stock is currently owned by institutional investors and hedge funds.

About Sphere 3D

Sphere 3D Corp. engages in the bitcoin mining business. It is involved with digital asset mining pool operators to provide computing power to the mining pools. The company is based in Stamford, Connecticut.