Sphere 3D Corp (NASDAQ:ANY)(TREND ANALYSIS) a virtualization and data management solutions provider, today announced it has partnered with iPro, a value added solution provider of healthcare technology and services based in Calhoun, GA, that serves over 300 healthcare sites through its Healthcare division. This partnership further highlights Sphere 3D’s strategy to optimize its virtualization solutions for use within the healthcare vertical, which has shown strong demand for virtual workspaces as a means to support improved patient care.
Through the first phase of the agreement, Sphere 3D will provide its virtualization solutions to over 200 iPro supported sites. The initial implementation will support 50 users at each healthcare location, with the ability to seamlessly increase the number of users as needed. Over the next three years, Sphere 3D expects to deliver all the hyperconverged infrastructure required to support these facilities as well as receive a recurring monthly software maintenance fee post deployment. If fully implemented, the total contract value is estimated to exceed $13 million over the next 3 years.
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Sphere 3D Corp (NASDAQ:ANY) stock is currently trading 68.03% below its 52-week-high, 83.73% above its 52-week-low. The 1-year stock price history is in the range of $1.66 – $9.54. Sphere 3D Corp (ANY) has a price to book ratio of 1.58. ANY stock price has underperformed the Nasdaq by 45.3%. The Applications Software company is currently valued at $0.11 billion and its share price closed the last trading session at $3.05. The stock has a 50-day moving average of $2.58 and a 200-day moving average of $3.84.
Sphere 3D Corp (ANY) current short interest stands at 2.41 million shares. It has increased by 1% from the same period of last month. Around 13% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.32 million shares, the number of days required to cover the short positions stand at 7.5 days.
ANY reported last quarter earnings on August 13. The Applications Software company announced earnings per share of $-0.15 against a consensus Street estimate of $-0.14, missing estimate by $0.01.
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There are currently two analysts that cover Sphere 3D Corp stock. Of those two, two have a Buy rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $7.5.
A recent analyst activity consisted of Roth Capital who initiated their coverage on the stock with Buy rating on June 24. Roth Capital fixed their price target at $8. This corresponds to a 162.3% upside from the last closing price. On the date of report, the stock closed at $4.83.
Company profile
Sphere 3D Corporation develops compatibility technology. The Company specializes in solutions that enable compatible hardware and software products to work together through device emulation and software virtualization. Sphere 3D caters to the cloud computing market.
