“Sphere 3D (NASDAQ: ANY) Very High Growth Sector, Tiny float, Increasing Revenues and Seeking Acquisitions”
Sphere 3D (NASDAQ: ANY) Very High Growth Sector, Tiny float, Increasing Revenues and Seeking Acquisitions
Good day everyone,
Today we are initiating coverage of, Sphere 3D Corp. (NASDAQ: ANY), a company with a portfolio of brands, including HVE ConneXions, UCX ConneXions, and SnapServer® to help customers achieve their IT goals.
Current price $2.12 per share
Outstanding shares (est.) 11.66 million
Float (est.) 4.84 million shares
Sphere 3D shares seem to be oversold. The company stock chart indicates an RSI (14) of 44.40 and the shares have slipped below their 50 DMA and 200 DMA of $2.71 and $2.37, respectively. We see these data as evidence of shares that may have been oversold. However, there is a Golden Cross formation (50DMA crossed above the 200DMA) in the chart from March 4th, 2021 that is still intact.
Sphere 3D shares are trading at 233% off their 52-week high and 220% below their February 2021 high of $4.46/share.
The tiny float at Sphere 3D can accommodate a rapid price increase.
The company shares appear to be forming a base around current levels.
Over the past three quarters, revenues have more than doubled.
Shareholder value is important to the insiders holding 30.7% of the shares.
The company operates in a remarkably high growth sector.
Last week, the company released its FYE 2020 results. Revenues were down marginally from 2019, mainly due to the pandemic, but have resumed an upward trend in 2021. The current market cap is $25M. ANY operates with a gross margin over 40%. As a part of your due diligence, you can review the company form 20-F for FYE 2020 filed this month.
Sphere 3D Verticals:
Healthcare – In healthcare they deliver V3 hyper-converged infrastructure for VDI with virtual desktop management, provisioning, and automation technology. They also deliver solutions derived from their proprietary application virtualization technology, Glassware 2.0.
Education – In the education vertical they deliver Glassware 2.0 application virtualization for students and V3 hyper-converged infrastructure for staff and higher education needs. Their approach allows for a unique value proposition and technology capability that aligns with current initiatives in education for Chromebooks, Tablets, and affordable nextgen Notebooks.
Government – In government, they are uniquely equipped to respond to needs that range from mainframe migration to Hyper-Converged Infrastructure for Windows applications.
Data Centers – Their MSP or Managed Service Provider solutions include everything required for turnkey distributed hyper converged virtual desktop and application infrastructure. They are the industry’s only provider of an End User Component Architecture with the ability optimize the allocation of storage, network and compute for the best possible user experience and system performance.
Sphere 3D spent the better part of 2020 attempting to acquire Rainmaker Holland BV. In February 2021, the company announced the potential combination had been terminated. The cancellation of the acquisition may refocus the company on its core business and future combination endeavors.
We will have part two on Sphere 3D available soon,
The Traders News Group
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