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Sphere 3D Corp. (NASDAQ: ANY): Is Its Value Too High Compared To Others?

Sphere 3D Corp. (NASDAQ:ANY) shares, rose in value on Thursday, 08/04/22, with the stock price up by 1.77% to the previous day’s close as strong demand from buyers drove the stock to $0.71.

Actively observing the price movement in the last trading, the stock closed the session at $0.70, falling within a range of $0.68 and $0.75. The value of beta (5-year monthly) was 2.44. Referring to stock’s 52-week performance, its high was $11.98, and the low was $0.52. On the whole, ANY has fluctuated by 24.06% over the past month.

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With the market capitalization of Sphere 3D Corp. currently standing at about $45.11 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 15, 2021.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ANY’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 1 recommend it as a Buy and 0 called the ANY stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ANY currently trading nearly 3.02% and -7.36% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 50.47, while the 7-day volatility ratio is showing 6.72% which for the 30-day chart, stands at 11.36%. Furthermore, Sphere 3D Corp. (ANY)’s beta value is 2.48, and its average true range (ATR) is 0.07.

Data on historical trading for Sphere 3D Corp. (NASDAQ:ANY) indicates that the trading volumes over the past 10 days have averaged 0.96 million and over the past 3 months, they’ve averaged 1.46 million. According to company’s latest data on outstanding shares, there are 63.84 million shares outstanding.

Nearly 12.80% of Sphere 3D Corp.’s shares belong to company insiders and institutional investors own 11.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 1.57 million shares as on Jul 14, 2022, resulting in a short ratio of 0.95. According to the data, the short interest in Sphere 3D Corp. (ANY) stood at 2.43% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 1.29 million. The stock has fallen by -77.27% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ANY stock heading into the next quarter.

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