The stock of Sphere 3D Corp. (NASDAQ:ANY) is now priced at $2.3 and the shares are 0.53 points up or 29.94% higher compared to its previous closing price of $1.77. The stock had 3.215 million contracts set over the past session. ANY shares’ daily volume is compared to its average trading volume at 0.465 million shares. However, it has a float of 4.98 million and although its performance was -24.09% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the ANY share price recently placing at $1.77 to $2.6164. However, some brokerage firms have priced the stock below the average, including one that has called $40.
The shorts are running away from the Sphere 3D Corp. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ANY shares have declined. Short interest in the stock represents just 0.59% of its float, but the volume has dropped by -6345. The volume of shorted shares dropped to 29329 from 35674 shares over the last two weeks. The average intraday trading volume has been 400211 shares, which means that days to cover moved to roughly 1.
In the last trading session, Sphere 3D Corp. (NASDAQ:ANY) dropped by -$0.73 over the week and lost -$0.98 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $5.55. The stock recorded its established 52-week high on 07/13/20.
Since 03/12/20, the stock has traded to a low of $0.33 at 596.97%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.92. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sphere 3D Corp.’s two-week RSI is 41.46. This suggests that the stock is neutral at the moment and that ANY shares’ price movement remains stable. The stochastic readings are equally revealing at 19.1% meaning the ANY share price is currently in overbought territory.
The technical chart shows that the ANY stock will likely settle at between $2.69 and $3.08 per share. However, if the stock dips below $1.84, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $1.38.
Currently, the stock is trading in the red of MACD, with a reading of -0.58. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ANY a rating of Buy in their intiating review released on January 19. ROTH Capital analysts see the stock as a Buy with a target price of $8 in a flash note released to investors on June 24 initiating covering the stock.