Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Declines By 44.7%

Sphere 3D Corp. (NASDAQ:ANY – Get Free Report) saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 57,600 shares, a decrease of 44.7% from the July 31st total of 104,200 shares. Based on an average trading volume of 166,300 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Sphere 3D in a research report on Thursday, August 17th. They set a “sell” rating for the company.

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Sphere 3D Stock Performance

NASDAQ:ANY opened at $1.44 on Friday. Sphere 3D has a twelve month low of $1.26 and a twelve month high of $4.90. The firm has a market capitalization of $17.14 million, a price-to-earnings ratio of -0.09 and a beta of 2.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.03. The firm’s fifty day simple moving average is $2.41 and its 200 day simple moving average is $2.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HBK Sorce Advisory LLC boosted its stake in shares of Sphere 3D by 100.0% in the fourth quarter. HBK Sorce Advisory LLC now owns 190,000 shares of the technology company’s stock valued at $221,000 after purchasing an additional 95,000 shares during the period. Renaissance Technologies LLC grew its stake in shares of Sphere 3D by 62.9% during the first quarter. Renaissance Technologies LLC now owns 851,276 shares of the technology company’s stock valued at $1,788,000 after acquiring an additional 328,746 shares in the last quarter. Virtu Financial LLC increased its position in shares of Sphere 3D by 537.3% during the first quarter. Virtu Financial LLC now owns 122,323 shares of the technology company’s stock worth $257,000 after acquiring an additional 103,130 shares during the last quarter. BNP Paribas Arbitrage SA acquired a new position in shares of Sphere 3D in the first quarter worth about $48,000. Finally, XTX Topco Ltd purchased a new position in Sphere 3D in the first quarter valued at about $43,000. Institutional investors and hedge funds own 0.35% of the company’s stock.

About Sphere 3D

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Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. The company also provides data management and desktop and application virtualization solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional services organization.

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