Why Is Sphere 3D Corp. (ANY) Stock Increasing By More Than 39.10% Today?

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Sphere 3D Corp (ANY) stock has achieved a 5-day range of $3.04 to $5.61, with a total performance of +42.31% during that period. Meanwhile, in the past month of trading, this stock has traded in the range of $2.20 to $5.61, generating a +62.50% change during the period. In the past three months, this stock’s price has changed by +204.44%, trading in the range of $1.28 to $5.61. 



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What Happened recently 

Earlier an agreement was announced by the Company to assume all of Hertford Advisors Ltd.’s bitcoin mining rights for six months. Before the open, 14.3 million shares had been traded, more than twice the average trading volume for the entire day. The company can purchase up to 60,000 new bitcoin mining machines under the agreement, which is set to begin in November 2021 and last for 10 months. “With our state-of-the-art miners, we’re pleased to be positioned as a leader in this very competitive market where products need to be delivered fast,” says Peter Tassiopoulos, President of Sphere 3D. The surge in the stock came on a day when bitcoin climbed 0.1% and its futures were not significantly changed. 

Analyst opinion

1 analyst observing the Sphere 3D Corp. (ANY) stock has set the 12-month price targets for the company’s shares at between $40.00 and $40.00. The consensus objective for the share price is $4.78. The median price target is 88.05% away from the current levels at $40.00.

 

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