Sphere 3D (NASDAQ:ANY) Stock Passes Below 200-Day Moving Average – Here’s Why

Sphere 3D Corp. (NASDAQ:ANY)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.02 and traded as low as $2.00. Sphere 3D shares last traded at $2.61, with a volume of 3,055,779 shares traded.

Analyst Upgrades and Downgrades

ANY has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Sphere 3D from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings upgraded 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, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Sphere 3D Stock Performance

The company has a 50 day moving average price of $2.36 and a 200 day moving average price of $2.02. The firm has a market cap of $22.71 million, a price-to-earnings ratio of -0.71 and a beta of 3.47.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings results on Friday, August 14th. The technology company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.49). The business had revenue of $2.45 million for the quarter, compared to analysts’ expectations of $3.00 million. Sphere 3D had a negative return on equity of 111.12% and a negative net margin of 332.50%.

Institutional Investors Weigh In On Sphere 3D

Institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd lifted its holdings in shares of Sphere 3D by 51.7% in the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after acquiring an additional 24,424 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Sphere 3D by 294.7% in the 3rd 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. Squarepoint Ops LLC acquired a new stake in Sphere 3D in the 4th quarter valued at approximately $113,000. Armistice Capital LLC acquired a new position in Sphere 3D during the fourth quarter worth $465,000. Finally, Jane Street Group LLC purchased a new position in shares of Sphere 3D during the fourth quarter worth $37,000. 17.28% of the stock is currently owned by institutional investors and hedge funds.

Sphere 3D Company Profile

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.