Why Has Sphere 3D Corp (NASDAQ: ANY) Inclined So Much?

Sphere 3D Corp (NASDAQ:ANY) traded at $1.03 at last check on current trade day and made an upward move of 1.47% on its previous day’s price.

Looking at the stock we see that its previous close was $1.02 and the beta (5Y monthly) reads 2.818 with the day’s price range being $1.0 – $1.0456. In terms of its 52-week price range, ANY has a high of $4.09 and a low of $0.57. The company’s stock has gained about 18.65% over that past 30 days.

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Sphere 3D Corp has a market cap of $21.06 million and is expected to release its quarterly earnings report on 2024-Nov-11.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at 5M, with a low of 5M and a high of 5M. According to analyst consensus estimates figures, the company’s yearly revenue forecast for current year is expected to hit 21.5M, or -1.90% down from figures reported last year.

On the other hand, looking at the outlook for the ANY stock, short term indicators assign the stock an average of 50% Buy, while medium term indicators assign it an average of 50% Sell.

Looking further, we note the current price level is 2.80% off its SMA20 and 11.65% from its 50-day simple moving average. The RSI (14) is pointing at 53.71 while the volatility over the past week is 11.60% and jumps to 9.19% over the past one month. The beta value is 2.86, while the average true range (ATR) is currently pointing at 0.09.

Coming back to Sphere 3D Corp (NASDAQ:ANY), we note that the average 3-month trading volume was 396.52K, while that of the preceding 10-day period stands at 0.78 million. Current shares outstanding are 20.74 million.

The insiders hold 5.42% of the company’s shares while institutions hold 4.41%. The data shows that short shares as of 2024-10-15, stood at 0.26 million at a short ratio of 0.94. This represents a 127.00 short interest in shares outstanding on 2024-10-15. Shares short fall in October from the previous month at 0.41 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -68.83% down in year-to-date price movement.

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