Sphere 3D Corp. (NASDAQ:ANY) Short Interest Down 87.0% in July

Sphere 3D Corp. (NASDAQ:ANY) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 12,885 shares, a drop of 87.0% from the June 30th total of 99,332 shares. Based on an average daily volume of 250,326 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Sphere 3D from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Sphere 3D

Several institutional investors have recently modified their holdings of ANY. XTX Topco Ltd grew its holdings in shares of Sphere 3D by 678.6% during the 4th 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 bought a new stake in Sphere 3D in the fourth quarter worth $465,000. Squarepoint Ops LLC bought a new stake in Sphere 3D in the fourth quarter worth $113,000. Jane Street Group LLC purchased a new stake in Sphere 3D during the fourth quarter valued at about $37,000. Finally, BNP Paribas Financial Markets boosted its position 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 valued at $37,000 after buying an additional 37,427 shares during the period. 17.28% of the stock is currently owned by institutional investors.

Sphere 3D Trading Up 8.2%

Shares of Sphere 3D stock traded up $0.14 on Friday, hitting $1.91. 6,471,550 shares of the company traded hands, compared to its average volume of 473,675. Sphere 3D has a 12-month low of $1.08 and a 12-month high of $12.60. The company has a market cap of $8.10 million, a P/E ratio of -0.55 and a beta of 3.48. The firm’s 50-day simple moving average is $2.61 and its 200 day simple moving average is $2.14.

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

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.