Sphere 3D Corp. (NASDAQ:ANY) Sees Large Drop in Short Interest

Sphere 3D Corp. (NASDAQ:ANY) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totalling 523,900 shares, a drop of 31.5% from the December 15th total of 765,100 shares. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 902,200 shares, the days-to-cover ratio is presently 0.6 days.

Sphere 3D Price Performance

ANY traded up $0.04 during trading hours on Wednesday, hitting $1.04. 246,239 shares of the stock were exchanged, compared to its average volume of 749,267. The stock has a 50-day simple moving average of $1.23 and a 200-day simple moving average of $1.06. Sphere 3D has a 12 month low of $0.67 and a 12 month high of $2.73. The stock has a market cap of $26.47 million, a price-to-earnings ratio of -1.30 and a beta of 2.99.

Insider Transactions at Sphere 3D

In other news, CEO Patricia Trompeter sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.31, for a total transaction of $26,200.00. Following the completion of the sale, the chief executive officer now owns 597,187 shares of the company’s stock, valued at approximately $782,314.97. This trade represents a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders sold 36,000 shares of company stock valued at $46,760. 5.59% of the stock is currently owned by corporate insiders.

Hedge Funds 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 Sphere 3D Corp. (NASDAQ:ANY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 17.28% of the company’s stock.

Analyst Upgrades and Downgrades

ANY has been the subject of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $3.00 price target on shares of Sphere 3D in a research report on Monday, November 18th. StockNews.com cut Sphere 3D from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th.

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.