Sphere 3D Corp. (NASDAQ:ANY)
Sphere 3D Corp. (NASDAQ:ANY) is ending the month on an up-note as the company’s shares have risen over 13% in the past month. Last week, Sphere 3D announced that its APPtechnology, a UK-based subsidiary, launched a new offering called “Legacy” to manage and migrate legacy applications utilizing Glassware 2.0™ and its framework features. The market’s response was, at best, lukewarm even though the share volume was registered at over three times the average.
Sphere 3D Corp. (NASDAQ:ANY) delivers containerization, virtualization, and data management solutions via a hybrid cloud, cloud and on-premise operations. Sphere 3D, along with its wholly owned subsidiaries Overland Storage, and Tandberg Data, has a portfolio of IT solutions brands that includes Overland-Tandberg, HVE ConneXions and UCX ConneXions.
Long-term performance on all levels is still beleaguering shares of the technology firm. Shares of Sphere 3D Corp. (NASDAQ:ANY) are down over 38% YTD, and are down over 80% for the year. The shares are over 8% below their 52-weekhigh of $23.25 but well above the 52-week low of $2.44.
Share dilution has been a constant nemesis for ANY shareholders. In 2012 only 480,000 shares were outstanding but that number increased every consecutive year. By 2016, the number of outstanding shares was barely under two million. While sales grew from $13.5 million in 2014 to $76.2 million in 2015, there was no gain in sales’ growth and, in 2016, sales were posted at just $76.4 million. Meanwhile losses, on a per share basis, have been increasing steadily. In 2012 the per share loss was (-$5.16). That loss was followed by annual losses of (-$4.81), (-$13.18), (-$31.11), and, for 2016, (-$34.41).
Earlier this July, Sphere 3D Corp. (NASDAQ:ANY) went through a 1:25 reverse stock split to address listing requirements. The lone firm that covers ANY shares rates them as a “Hold”.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.