Sphere 3D (ANY) Expected to Announce Earnings on Wednesday

Sphere 3D (NASDAQ:ANY) is projected to release its results before the market opens on Wednesday, May 13th. Analysts expect Sphere 3D to post earnings of ($0.72) per share and revenue of $2.90 million for the quarter.

Sphere 3D (NASDAQ:ANY) last released its earnings results on Friday, March 6th. The technology company reported ($3.27) earnings per share (EPS) for the quarter. Sphere 3D had a negative net margin of 192.13% and a negative return on equity of 84.26%. The firm had revenue of $2.72 million during the quarter.

Sphere 3D Price Performance

NASDAQ ANY opened at $1.50 on Wednesday. The stock’s fifty day moving average price is $1.49 and its 200 day moving average price is $3.24. Sphere 3D has a 1 year low of $1.08 and a 1 year high of $12.60. The company has a market cap of $5.66 million, a price-to-earnings ratio of -0.19 and a beta of 3.60.

Institutional Investors Weigh In On Sphere 3D

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd boosted its holdings in 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 fourth quarter valued at $465,000. Squarepoint Ops LLC purchased a new stake in Sphere 3D in the fourth quarter valued at $113,000. Jane Street Group LLC purchased a new stake in Sphere 3D in the fourth quarter valued at $37,000. Finally, BNP Paribas Financial Markets boosted its holdings in Sphere 3D by 294.7% in the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock valued at $37,000 after purchasing an additional 37,427 shares during the last quarter. 17.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ANY. Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere 3D in a research report on Wednesday, January 21st. Wall Street Zen raised Sphere 3D to a “sell” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

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.