Key Points
- CEO Kurt Kalbfleisch sold 90,000 shares on Dec. 9 at an average of $0.47 for $42,300, cutting his stake by 13.87% to 558,964 shares.
- Sphere 3D missed Q3 expectations, reporting ($0.13) EPS vs. ($0.11) expected and $2.62M revenue vs. $3.00M expected, with deeply negative margins and ROE.
- Shares trade around $0.48
Sphere 3D Corp. (NASDAQ:ANY - Get Free Report) CEO Kurt Kalbfleisch sold 90,000 shares of the business's stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $0.47, for a total transaction of $42,300.00. Following the transaction, the chief executive officer owned 558,964 shares in the company, valued at $262,713.08. This represents a 13.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Sphere 3D Price Performance
ANY traded down $0.02 on Thursday, hitting $0.48. The company had a trading volume of 13,809 shares, compared to its average volume of 663,207. Sphere 3D Corp. has a 52-week low of $0.36 and a 52-week high of $1.32. The stock has a fifty day simple moving average of $0.66 and a 200-day simple moving average of $0.65. The firm has a market capitalization of $16.02 million, a P/E ratio of -0.62 and a beta of 3.54.
Sphere 3D (NASDAQ:ANY - Get Free Report) last posted its earnings results on Tuesday, November 4th. The technology company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). The firm had revenue of $2.62 million for the quarter, compared to analysts' expectations of $3.00 million. Sphere 3D had a negative return on equity of 61.18% and a negative net margin of 167.47%. Equities research analysts expect that Sphere 3D Corp. will post -0.58 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Sphere 3D in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $3.00.
View Our Latest Stock Report on ANY
Institutional Investors Weigh In On Sphere 3D
Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its holdings in shares of Sphere 3D by 294.7% during the third quarter. BNP Paribas Financial Markets now owns 50,127 shares of the technology company's stock valued at $37,000 after acquiring an additional 37,427 shares in the last quarter. Armistice Capital LLC grew its position in Sphere 3D by 1.4% during the 1st quarter. Armistice Capital LLC now owns 2,204,934 shares of the technology company's stock valued at $879,000 after purchasing an additional 30,934 shares during the last quarter. Finally, XTX Topco Ltd grew its position in Sphere 3D by 51.7% during the 2nd quarter. XTX Topco Ltd now owns 71,682 shares of the technology company's stock valued at $42,000 after purchasing an additional 24,424 shares during the last quarter. 17.28% of the stock is owned by hedge funds and other institutional investors.
Sphere 3D Company Profile
(
Get Free Report)
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.
Further Reading
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