Sphere 3D (NASDAQ:ANY) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Sphere 3D (NASDAQ:ANY) released its quarterly earnings results on Tuesday. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02), Zacks reports. Sphere 3D had a negative return on equity of 47.27% and a negative net margin of 131.43%.

Sphere 3D Trading Down 7.3%

ANY stock traded down $0.05 during trading on Tuesday, hitting $0.63. The company had a trading volume of 692,629 shares, compared to its average volume of 688,143. The firm has a market capitalization of $17.86 million, a price-to-earnings ratio of -1.03 and a beta of 3.45. The business has a 50 day moving average of $0.74 and a 200 day moving average of $0.68. Sphere 3D has a fifty-two week low of $0.36 and a fifty-two week high of $1.90.

Wall Street Analysts Forecast Growth

ANY has been the subject of several recent research reports. Wall Street Zen upgraded shares of Sphere 3D from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently raised its stake in Sphere 3D stock. XTX Topco Ltd raised its holdings in Sphere 3D Corp. (NASDAQ:ANY) by 51.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,682 shares of the technology company’s stock after acquiring an additional 24,424 shares during the quarter. XTX Topco Ltd owned 0.25% of Sphere 3D worth $42,000 as of its most recent filing with the Securities and Exchange Commission. 17.28% of the stock is owned by institutional investors and hedge funds.

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.