Sphere 3D (NASDAQ:ANY) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Sphere 3D Corp. (NASDAQ:ANY)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $2.64 and traded as low as $1.92. Sphere 3D shares last traded at $2.09, with a volume of 875,974 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ANY. Weiss Ratings upgraded Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Wall Street Zen upgraded Sphere 3D to a “sell” rating in a report on Saturday, March 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Sphere 3D Stock Performance

The company has a market cap of $8.86 million, a price-to-earnings ratio of -0.60 and a beta of 3.48. The stock’s fifty day moving average is $2.64 and its two-hundred day moving average is $2.26.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results 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). The company had revenue of $1.92 million for the quarter, compared to analyst estimates of $2.90 million. Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%.

Hedge Funds Weigh In On Sphere 3D

A number of hedge funds have recently bought and sold shares of the company. XTX Topco Ltd raised its holdings in shares of Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock valued at $39,000 after purchasing an additional 114,460 shares during the last quarter. Armistice Capital LLC purchased a new stake in Sphere 3D in the 4th quarter valued at about $465,000. Squarepoint Ops LLC purchased a new stake in Sphere 3D in the 4th quarter valued at about $113,000. Jane Street Group LLC bought a new position in shares of Sphere 3D during the 4th quarter worth approximately $37,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Sphere 3D by 294.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after buying an additional 37,427 shares in the last quarter. 17.28% of the stock is owned by hedge funds and other institutional investors.

About Sphere 3D

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.