Sphere 3D Corp. (NASDAQ:ANY) Short Interest Up 115.8% in October

Sphere 3D Corp. (NASDAQ:ANY) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 559,500 shares, a growth of 115.8% from the October 15th total of 259,300 shares. Based on an average trading volume of 504,400 shares, the short-interest ratio is presently 1.1 days. Currently, 2.9% of the shares of the company are sold short.

Institutional Trading of Sphere 3D

A hedge fund recently bought a new position in Sphere 3D stock. XTX Topco Ltd acquired a new position in shares of Sphere 3D Corp. (NASDAQ:ANY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 quarter. 17.28% of the stock is owned by hedge funds and other institutional investors.

Sphere 3D Trading Up 8.0 %

Shares of Sphere 3D stock opened at $1.75 on Wednesday. Sphere 3D has a twelve month low of $0.57 and a twelve month high of $4.09. The firm’s 50-day simple moving average is $0.96 and its 200-day simple moving average is $1.02.

Sphere 3D (NASDAQ:ANY) last released its quarterly earnings data on Tuesday, August 13th. The technology company reported ($0.21) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $4.67 million for the quarter, compared to analyst estimates of $5.30 million. On average, equities analysts forecast that Sphere 3D will post -0.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.