Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Decreases By 37.7%

Sphere 3D Corp. (NASDAQ:ANY) saw a significant decrease in short interest in March. As of March 15th, there was short interest totalling 355,300 shares, a decrease of 37.7% from the February 28th total of 570,200 shares. Based on an average daily trading volume, of 443,900 shares, the short-interest ratio is currently 0.8 days. Currently, 1.5% of the shares of the stock are sold short.

Sphere 3D Trading Down 8.9 %

NASDAQ ANY opened at $0.42 on Friday. Sphere 3D has a 1 year low of $0.41 and a 1 year high of $1.90. The company has a market cap of $10.66 million, a PE ratio of -0.52 and a beta of 3.11. The stock’s 50-day moving average price is $0.68 and its two-hundred day moving average price is $0.96.

Sphere 3D (NASDAQ:ANY) last released its earnings results on Wednesday, April 2nd. The technology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.02). Sphere 3D had a negative return on equity of 49.54% and a negative net margin of 50.87%. Research analysts forecast that Sphere 3D will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Sphere 3D in a research note on Tuesday. They set a “sell” rating for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sphere 3D stock. Two Sigma Securities LLC bought a new position in Sphere 3D Corp. (NASDAQ:ANY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,879 shares of the technology company’s stock, valued at approximately $30,000. Two Sigma Securities LLC owned approximately 0.13% of Sphere 3D as of its most recent SEC filing. Hedge funds and other institutional investors own 17.28% of the company’s stock.

About Sphere 3D

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.