Sphere 3D (NASDAQ:ANY) Shares Pass Below 50 Day Moving Average – Time to Sell?

Sphere 3D Corp. (NASDAQ:ANY) shares crossed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.64 and traded as low as $1.92. Sphere 3D shares last traded at $2.09, with a volume of 875,974 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings upgraded Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Sphere 3D Trading Down 5.0%

The business has a 50-day moving average price of $2.64 and a 200 day moving average price of $2.26. The stock has a market capitalization of $8.87 million, a P/E ratio of -0.60 and a beta of 3.48.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Friday, May 8th. The technology company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46). Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%. The business had revenue of $1.92 million for the quarter, compared to analysts’ expectations of $2.90 million.

Institutional Trading of Sphere 3D

Several hedge funds have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in shares of Sphere 3D during the 4th quarter valued at approximately $465,000. Squarepoint Ops LLC purchased a new stake in Sphere 3D during the 4th quarter valued at $113,000. Jane Street Group LLC bought a new stake in Sphere 3D in the fourth quarter worth $37,000. XTX Topco Ltd lifted its position in Sphere 3D by 678.6% in the fourth quarter. XTX Topco Ltd now owns 131,326 shares of the technology company’s stock worth $39,000 after buying an additional 114,460 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company’s stock worth $37,000 after buying an additional 37,427 shares during the period. 17.28% of the stock is currently owned by hedge funds and other institutional investors.

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.