Sphere 3D Corp. (NASDAQ:ANY) Sees Significant Decrease in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 355,300 shares, a decline of 37.7% from the February 28th total of 570,200 shares. Based on an average daily trading volume, of 443,900 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.5% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. Two Sigma Securities LLC acquired a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned about 0.13% of Sphere 3D as of its most recent SEC filing. Institutional investors own 17.28% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Sphere 3D in a research note on Tuesday, March 25th. They issued a “sell” rating on the stock.

Sphere 3D Stock Performance

NASDAQ:ANY opened at $0.42 on Friday. The firm has a market cap of $10.66 million, a P/E ratio of -0.52 and a beta of 3.11. Sphere 3D has a fifty-two week low of $0.41 and a fifty-two week high of $1.90. The firm has a 50-day simple moving average of $0.68 and a two-hundred day simple moving average of $0.96.

Sphere 3D (NASDAQ:ANY) last announced its quarterly earnings results on Friday, March 28th. The technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). The firm had revenue of $2.64 million for the quarter, compared to the consensus estimate of $6.72 million. Sphere 3D had a negative net margin of 50.87% and a negative return on equity of 49.54%. On average, equities research analysts predict that Sphere 3D will post -0.58 EPS for the current year.

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.