Sphere 3D (NASDAQ:ANY) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Sphere 3D Corp. (NASDAQ:ANY)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.90 and traded as high as $1.09. Sphere 3D shares last traded at $1.04, with a volume of 641,191 shares traded.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ANY shares. StockNews.com raised Sphere 3D from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. HC Wainwright reduced their target price on Sphere 3D from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, August 19th.

Sphere 3D Trading Down 5.5 %

The stock has a market cap of $21.57 million, a P/E ratio of -0.79 and a beta of 2.81. The firm’s fifty day moving average is $0.90 and its 200 day moving average is $1.02.

Sphere 3D (NASDAQ:ANY) last posted its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.03. Sphere 3D had a negative return on equity of 67.44% and a negative net margin of 69.64%. The business had revenue of $4.67 million for the quarter, compared to analyst estimates of $5.30 million. Research analysts forecast that Sphere 3D Corp. will post -0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sphere 3D

A hedge fund recently bought a new stake in Sphere 3D stock. XTX Topco Ltd bought a new stake in shares of Sphere 3D Corp. (NASDAQ:ANY) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 52,130 shares of the technology company’s stock, valued at approximately $56,000. XTX Topco Ltd owned about 0.28% of Sphere 3D at the end of the most recent reporting period. Hedge funds and other institutional investors own 17.28% of the company’s stock.

Sphere 3D Company Profile

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.