Sphere 3D Corp. (NASDAQ:ANY – Get Rating) was the target of some unusual options trading activity on Monday. Investors purchased 112,549 call options on the stock. This represents an increase of approximately 812% compared to the average volume of 12,343 call options.
ANY traded up $0.58 on Monday, reaching $2.54. 26,216,480 shares of the company’s stock were exchanged, compared to its average volume of 6,275,391. The stock has a market cap of $91.97 million, a PE ratio of -3.00 and a beta of 2.17. Sphere 3D has a twelve month low of $1.28 and a twelve month high of $11.98. The stock’s fifty day moving average price is $2.19 and its 200-day moving average price is $4.21.
A number of hedge funds have recently modified their holdings of ANY. Advisor Group Holdings Inc. acquired a new position in shares of Sphere 3D in the third quarter valued at approximately $36,000. Commonwealth Equity Services LLC acquired a new position in shares of Sphere 3D in the fourth quarter valued at approximately $45,000. Citadel Advisors LLC acquired a new position in shares of Sphere 3D in the second quarter valued at approximately $56,000. Virtu Financial LLC acquired a new position in shares of Sphere 3D in the fourth quarter valued at approximately $60,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Sphere 3D by 78,000.0% in the fourth quarter. Wells Fargo & Company MN now owns 19,525 shares of the technology company’s stock valued at $61,000 after purchasing an additional 19,500 shares in the last quarter. 25.03% of the stock is currently owned by institutional investors.
The soaring demand for this “red rock” may be the most important development in 2022. It’s key in the transition to the new green energy economies. Bloomberg News warns… “Within a decade, the world may face a massive shortfall of what’s arguably the most critical metal for global economies.” Copper prices have nearly doubled in the past year.
About Sphere 3D (Get Rating)
Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. It also provides data management solutions through hybrid cloud, cloud, and on-premises implementations directly and through its reseller network and professional services organization. The company is based in Toronto, Canada.
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Read More: Sphere 3D Target of Unusually Large Options Trading (NASDAQ:ANY)