The trading price of Sphere 3D Corp (NASDAQ:ANY) closed higher on Thursday, March 29, closing at $1.54, 13.24% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $4.09 and a 52-week low of $0.57. Over the past month, the stock has lost -27.70% in value.
Sphere 3D Corp, whose market valuation is $27.41 million at the time of this writing, is expected to release its quarterly earnings report May 09, 2024 – May 13, 2024. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.23 per share this quarter, however they have predicted annual earnings per share of -$1.39 for 2024 and $0 for 2025. It means analysts are expecting annual earnings per share growth of 28.00%.
Analysts have forecast the company to bring in revenue of $8.3 million for the current quarter, with the likely lows of $8.3 million and highs of $8.3 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $25.9 million. The company’s revenue is forecast to grow by 18.20% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Sphere 3D Corp No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest ANY has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Buy, while an average of long term indicators suggests that the stock is currently 50% Sell.
A quick review shows that ANY’s price is currently -3.80% off the SMA20 and -19.97% off the SMA50. The RSI metric on the 14-day chart is currently showing 45.61, and weekly volatility stands at 10.62%. When measured over the past 30 days, the indicator reaches 10.80%. Sphere 3D Corp (NASDAQ:ANY)’s beta value is currently sitting at 2.78, while the Average True Range indicator is currently displaying 0.19.
To see how Sphere 3D Corp stock has been performing in comparison to its peers in the industry, here are the numbers: ANY stock’s performance was 13.24% in the latest trading, and -32.76% in the past year.
An evaluation of the daily trading volume of Sphere 3D Corp (NASDAQ:ANY) indicates that the 3-month average is 1.29 million. However, this figure has increased over the past 10 days to an average of 0.6 million.
Currently, records show that 17.80 million of the company’s shares remain outstanding. The insiders hold 5.82% of outstanding shares, whereas institutions hold 4.38%. The stats also highlight that short interest as of Mar 15, 2024, stood at 0.58 million shares, resulting in a short ratio of 0.58 at that time. From this, we can conclude that short interest is 3.27% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 0.79 million. However, since the stock’s price has seen -53.61% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
