Sphere 3D logged a -3.6% change Friday, and is now trading at a price of $0.45 per share.
Sphere 3D returned losses of -69.2% last year, with its stock price reaching a high of $1.67 and a low of $0.23. Over the same period, the stock underperformed the S&P 500 index by -70.0%. As of April 2023, the company's 50-day average price was $0.38. Sphere 3D Corp. focuses on operating as a carbon neutral bitcoin mining company. Based in Greenwich, CT, the small-cap Technology company has 27 full time employees. Sphere 3D has not offered a dividend during the last year.
The Company Is Bleeding Cash
| 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue (k) | $5,579 | $4,848 | $3,720 | $6,077 |
| Gross Margins | 33.2% | 46.4% | 45.6% | 43.8% |
| Operating Margins | -106.7% | -117.1% | -508.0% | -1109.4% |
| Net Margins | -76.73% | -119.2% | -464.76% | -3172.63% |
| Net Income (k) | -$4,281 | -$5,779 | -$17,289 | -$192,801 |
| Interest Cost | -$353 | -$728 | $2,414 | $2,600 |
| Depreciation & Amort. | -$1,030 | -$971 | -$5,685 | -$28,263 |
| Earnings Per Share | -$1.59 | -$0.98 | -$0.58 | -$2.79 |
| EPS Growth | n/a | 38.36% | 40.82% | -381.03% |
| Diluted Shares (k) | 2,693 | 5,885 | 30,863 | 73,929 |
| Free Cash Flow (k) | -$1,813 | -$2,582 | -$130,756 | -$48,708 |
| Capital Expenditures | n/a | n/a | -$102,238 | -$17,937 |
| Net Current Assets (k) | -$5,225 | -$4,734 | $72,124 | -$38,167 |
| Current Ratio | 0.29 | 0.36 | 15.06 | 1.66 |
Sphere 3D does not have a meaningful trailing P/E ratio since its earnings per share are negative. Its forward EPS guidance is negative too, at $-3.04. The average P/E ratio for the Technology sector is 27.16. On the other hand, the market is undervaluing Sphere 3D in terms of its equity because its P/B ratio is 0.89. In comparison, the sector average is 6.23.
Sphere 3D Is the Subject of Mixed Market Indicators:
The lone analyst who follows Sphere 3D has a rating of buy and a target price of $10.0, which is -96.2 away from its current price.
Sphere 3D has a very low short interest because 0.8% of the company's shares are sold short. Institutions own 1.3% of the company's shares, and the insider ownership rate stands at 2.79%, suggesting a decent amount of insider shareholders. The largest shareholder is Citadel Advisors Llc, whose 0% stake in the company is worth $92,112.
