Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Expands By 220.9%
by Sarita Garza · The Markets DailySphere 3D Corp. (NASDAQ:ANY – Get Free Report) saw a significant growth in short interest in June. As of June 15th, there was short interest totaling 142,957 shares, a growth of 220.9% from the May 31st total of 44,552 shares. Based on an average daily volume of 15,595,252 shares, the days-to-cover ratio is currently 0.0 days. Currently, 3.5% of the shares of the stock are sold short.
Hedge Funds Weigh In On Sphere 3D
A number of large investors have recently added to or reduced their stakes in ANY. XTX Topco Ltd lifted its stake in Sphere 3D by 51.7% in the second quarter. XTX Topco Ltd now owns 71,682 shares of the technology company’s stock worth $42,000 after purchasing an additional 24,424 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Sphere 3D by 294.7% in 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. Jane Street Group LLC purchased a new position in shares of Sphere 3D in the fourth quarter worth about $37,000. Squarepoint Ops LLC bought a new stake in shares of Sphere 3D in the 4th quarter valued at about $113,000. Finally, Armistice Capital LLC bought a new stake in shares of Sphere 3D in the 4th quarter valued at about $465,000. Hedge funds and other institutional investors own 17.28% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on ANY. Wall Street Zen raised shares of Sphere 3D to a “sell” rating in a research note on Saturday, March 21st. 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, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.
Read Our Latest Stock Analysis on Sphere 3D
Sphere 3D Stock Performance
NASDAQ:ANY traded down $0.01 during mid-day trading on Friday, reaching $2.73. The stock had a trading volume of 146,258 shares, compared to its average volume of 9,151,418. The firm has a 50 day moving average price of $2.44 and a two-hundred day moving average price of $2.38. The stock has a market capitalization of $11.58 million, a P/E ratio of -0.78 and a beta of 3.63. Sphere 3D has a one year low of $1.08 and a one year high of $12.60.
Sphere 3D (NASDAQ:ANY – Get Free Report) last issued its quarterly earnings results on Friday, May 8th. The technology company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.46). The business had revenue of $1.92 million for the quarter, compared to the consensus estimate of $2.90 million. Sphere 3D had a negative net margin of 163.45% and a negative return on equity of 78.14%.
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.