Sphere 3D (NASDAQ:ANY) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Sphere 3D (NASDAQ:ANY) from a sell rating to a strong sell rating in a research note published on Saturday.

Separately, Weiss Ratings raised Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Sphere 3D Stock Down 6.9%

NASDAQ:ANY opened at $2.43 on Friday. Sphere 3D has a twelve month low of $1.08 and a twelve month high of $12.60. The company has a market cap of $21.14 million, a P/E ratio of -0.66 and a beta of 3.47. The business has a 50 day moving average price of $2.35 and a two-hundred day moving average price of $2.02.

Sphere 3D (NASDAQ:ANY) last issued its quarterly earnings results on Friday, August 14th. The technology company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.49). Sphere 3D had a negative net margin of 332.50% and a negative return on equity of 111.12%. The business had revenue of $2.45 million during the quarter, compared to analyst estimates of $3.00 million.

Hedge Funds Weigh In On Sphere 3D

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANY. XTX Topco Ltd increased 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 bought a new stake in shares of Sphere 3D during the 4th quarter worth about $465,000. Squarepoint Ops LLC bought a new stake in shares of Sphere 3D during the 4th quarter worth about $113,000. Jane Street Group LLC acquired a new position in Sphere 3D in the 4th quarter valued at about $37,000. Finally, BNP Paribas Financial Markets grew its stake in Sphere 3D by 294.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after buying an additional 37,427 shares during the last quarter. 17.28% of the stock is owned by institutional investors.

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.