An interesting stock that came up in some of our conversations today is Sphere 3D Corp. (NASDAQ:ANY). At current price of $0.69, the shares have already added 0.14 points (24.14% higher) from its previous close of $0.55. Should you buy or avoid them? The stock sets an active trading volume day with a reported 78090 contracts so far this session. ANY shares had a relatively better volume day versus average trading capacity of 111.79 thousand shares, but with a 2.71 million float and a 48.62% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for ANY stock indicates that the average analyst price target is $5 per share. This means the stock has a potential increase of 624.64% from where the ANY share price has been trading recently.
During the recent trading session for Sphere 3D Corp. (NASDAQ:ANY), the company witnessed their stock rise $0.2372 over a week and tumble down $-0.1278 from the price 20 days ago. When compared to their established 52-week high of $3.12, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 04/15/19. The recent low of $0.33 stood for a -78% since 12/03/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.84 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Sphere 3D Corp., the two-week RSI stands at 57.2. This figure suggests that ANY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current ANY readings is similarly very revealing as it has a stochastic reading of 56.9% at this stage. This figure means that ANY share price today is being neutral.
Technical chart claims that Sphere 3D Corp. (ANY) would settle between $0.584/share to $0.615/share level. However, if the stock price goes below the $0.491 mark, then the market for Sphere 3D Corp. becomes much weaker. If that happens, the stock price might even plunge as low as $0.429 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.09. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Ladenburg Thalmann, assumed coverage of ANY assigning Buy rating, according to their opinion released on January 19. ROTH Capital, analysts launched coverage of Sphere 3D Corp. (NASDAQ:ANY) stock with a Buy recommendation, according to their flash note issued to investors on June 24.