Sphere 3D (NASDAQ:ANY)’s share price rose 18.2% on Tuesday . The company traded as high as $0.50 and last traded at $0.65. Approximately 184,772 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 665,033 shares. The stock had previously closed at $0.55.
Separately, ValuEngine raised Sphere 3D from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd.
Sphere 3D (NASDAQ:ANY) last released its quarterly earnings data on Wednesday, March 21st. The technology company reported ($0.35) earnings per share for the quarter. The business had revenue of $18.67 million during the quarter. Sphere 3D had a negative return on equity of 84.04% and a negative net margin of 31.80%.
In related news, major shareholder Cyrus Capital Partners, L.P. sold 609,215 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.50, for a total transaction of $913,822.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 618,685 shares of company stock valued at $923,796. Corporate insiders own 1.08% of the company’s stock.
A hedge fund recently raised its stake in Sphere 3D stock. Cyrus Capital Partners L.P. raised its stake in shares of Sphere 3D (NASDAQ:ANY) by 57.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 959,843 shares of the technology company’s stock after purchasing an additional 350,628 shares during the period. Sphere 3D accounts for about 0.2% of Cyrus Capital Partners L.P.’s portfolio, making the stock its 15th biggest position. Cyrus Capital Partners L.P. owned about 14.33% of Sphere 3D worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 6.56% of the stock is currently owned by hedge funds and other institutional investors.
About Sphere 3D
Sphere 3D Corp. provides data management, and desktop and application virtualization solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It enables organizations to deploy a combination of public, private, or hybrid cloud strategies through containerized applications, virtual desktops, virtual storage, and physical hyper-converged platforms.
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