StockNews.com Initiates Coverage on Sphere 3D (NASDAQ:ANY)

Equities research analysts at StockNews.com started coverage on shares of Sphere 3D (NASDAQ:ANY) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

Sphere 3D Stock Performance

Sphere 3D stock opened at $0.48 on Tuesday. The firm has a market cap of $12.09 million, a price-to-earnings ratio of -0.59 and a beta of 3.11. Sphere 3D has a 52-week low of $0.45 and a 52-week high of $1.90. The firm has a 50 day moving average price of $0.73 and a two-hundred day moving average price of $0.97.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Sphere 3D stock. Two Sigma Securities LLC bought a new position in Sphere 3D Corp. (NASDAQ:ANY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned approximately 0.13% of Sphere 3D as of its most recent filing with the Securities and Exchange Commission (SEC). 17.28% of the stock is currently owned by institutional investors.

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.