Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Declines By 70.0%

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large decline in short interest in May. As of May 29th, there was short interest totaling 44,552 shares, a decline of 70.0% from the May 14th total of 148,645 shares. Based on an average daily trading volume, of 178,246 shares, the short-interest ratio is presently 0.2 days. Currently, 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in shares of Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after purchasing an additional 37,427 shares during the last quarter. XTX Topco Ltd lifted its position in Sphere 3D by 51.7% during the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock valued at $42,000 after purchasing an additional 24,424 shares during the last quarter. Jane Street Group LLC purchased a new position in Sphere 3D in the 4th quarter worth approximately $37,000. Squarepoint Ops LLC purchased a new position in Sphere 3D in the 4th quarter worth approximately $113,000. Finally, Armistice Capital LLC bought a new position in shares of Sphere 3D in the 4th quarter worth $465,000. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Sphere 3D in a research report on Monday, May 4th. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Sphere 3D Trading Up 7.1%

Shares of ANY traded up $0.20 during mid-day trading on Thursday, reaching $3.06. 87,948 shares of the stock traded hands, compared to its average volume of 1,961,749. The company has a market cap of $13.00 million, a price-to-earnings ratio of -0.88 and a beta of 3.63. Sphere 3D has a 1 year low of $1.08 and a 1 year high of $12.60. The firm has a fifty day moving average price of $2.03 and a 200 day moving average price of $2.51.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings data on Friday, May 8th. The technology company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46). Sphere 3D had a negative return on equity of 78.14% and a negative net margin of 163.45%.The business had revenue of $1.92 million during the quarter, compared to analysts’ expectations of $2.90 million.

Sphere 3D Company Profile

Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.

Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.