ValuEngine Lowers Sphere 3D (NASDAQ:ANY) to Hold

ValuEngine cut shares of Sphere 3D (NASDAQ:ANY) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Shares of ANY opened at $0.78 on Wednesday. The firm’s 50 day moving average is $0.97 and its 200-day moving average is $1.33. Sphere 3D has a 12-month low of $0.70 and a 12-month high of $4.88.

An institutional investor recently raised its position in Sphere 3D stock. Morgan Stanley increased its stake in Sphere 3D Corp (NASDAQ:ANY) by 1,003.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,117 shares of the technology company’s stock after acquiring an additional 33,754 shares during the quarter. Morgan Stanley owned approximately 1.61% of Sphere 3D worth $58,000 at the end of the most recent quarter. Institutional investors and hedge funds own 7.77% of the company’s stock.

Sphere 3D Company Profile

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.

Further Reading: Cash Asset Ratio

To view ValuEngine’s full report, visit ValuEngine’s official website.

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