Sphere 3D (NASDAQ:ANY) Shares Scheduled to Reverse Split on Tuesday, February 10th
by Danessa Lincoln · The Markets DailySphere 3D Corp. (NASDAQ:ANY – Free Report)’s stock is set to reverse split before the market opens on Tuesday, February 10th. The 1-10 reverse split was announced on Friday, February 6th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, February 9th.
Sphere 3D Price Performance
ANY traded down $0.01 during trading on Friday, hitting $0.18. 3,551,226 shares of the stock traded hands, compared to its average volume of 596,596. The business has a 50 day moving average price of $0.35 and a 200 day moving average price of $0.55. Sphere 3D has a twelve month low of $0.16 and a twelve month high of $1.26. The company has a market cap of $6.04 million, a price-to-earnings ratio of -0.23 and a beta of 3.75.
Sphere 3D (NASDAQ:ANY – Get Free Report) last issued 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). Sphere 3D had a negative net margin of 167.47% and a negative return on equity of 61.18%. The business had revenue of $2.62 million during the quarter, compared to analyst estimates of $3.00 million. On average, equities research analysts predict that Sphere 3D will post -0.58 earnings per share for the current year.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Sphere 3D in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.00.
Check Out Our Latest Report on Sphere 3D
Insider Buying and Selling
In other news, CEO Kurt L. Kalbfleisch sold 90,000 shares of Sphere 3D stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $0.47, for a total transaction of $42,300.00. Following the sale, the chief executive officer directly owned 558,964 shares of the company’s stock, valued at approximately $262,713.08. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.90% of the company’s stock.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Sphere 3D stock. XTX Topco Ltd grew its stake in Sphere 3D Corp. (NASDAQ:ANY – Free Report) by 51.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,682 shares of the technology company’s stock after buying an additional 24,424 shares during the period. XTX Topco Ltd owned 0.25% of Sphere 3D worth $42,000 as of its most recent filing with the Securities and Exchange Commission. 17.28% of the stock is owned by institutional investors and hedge funds.
About Sphere 3D
Sphere 3D Corporation is a technology company specializing in virtualization, containerization and data management solutions. The company develops software and appliance-based offerings designed to simplify the deployment, mobility and orchestration of applications and data across on-premises, private cloud and public cloud environments. Its platforms enable organizations to consolidate IT infrastructure, improve resource utilization and accelerate application delivery without extensive re-engineering of legacy systems.
Among its key products is the Glassware platform, which allows enterprises to containerize Windows and Linux applications for delivery to virtually any endpoint without needing native software installs.