Short Interest in Sphere 3D Corp. (NASDAQ:ANY) Decreases By 31.5%

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

Wall Street Analyst Weigh In

ANY has been the subject of several recent research reports. StockNews.com downgraded Sphere 3D from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. HC Wainwright restated a “buy” rating and issued a $3.00 price objective on shares of Sphere 3D in a report on Monday, November 18th.

Insider Buying and Selling

In related news, CEO Patricia Trompeter sold 20,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $1.31, for a total value of $26,200.00. Following the completion of the transaction, the chief executive officer now owns 597,187 shares of the company’s stock, valued at $782,314.97. This represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 36,000 shares of company stock worth $46,760 in the last ninety days. 5.59% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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 the company in its most recent 13F filing 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 institutional investors.

Sphere 3D Price Performance

Shares of Sphere 3D stock traded up $0.07 on Friday, hitting $1.09. 532,089 shares of the company’s stock traded hands, compared to its average volume of 724,819. The company has a market capitalization of $27.74 million, a price-to-earnings ratio of -1.37 and a beta of 2.99. The company has a fifty day moving average of $1.23 and a two-hundred day moving average of $1.06. Sphere 3D has a one year low of $0.67 and a one year high of $2.73.

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.