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Monday, January 18, 2021

Sphere 3D Corp. (NASDAQ:ANY) Seeing a Jump After New Deal

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Sphere 3D Corp. (NASDAQ:ANY) and its subsidiary is trading higher on a contract with the University of North Alabama, more on that below. Sphere 3D Corp. is a technology company that allows for data compression without security risk, amongst other technologies.

ANY has been a short run with news leaking about a reverse stock split. In fact, that 1-for-25 split was completed this week and kept the company on the NASDAQ. But, let’s look into the company and see if a sustained run is coming.

Sphere 3D Corp. (NASDAQ:ANY) delivers containerization, virtualization, and data management solutions via hybrid Cloud, Cloud and on-premises implementations through its global reseller network and professional services organization. Sphere 3D, along with its wholly owned subsidiaries Overland Storage, and Tandberg Data, has a strong portfolio of brands, including HVE ConneXions and UCX ConneXions, dedicated to helping customers achieve their IT goals.

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ANY turned over its earnings and gave Wall Street a bit of a surprise with a bonus of 18% in total revenue. The volume has been high but most analysts are not yet biting on the technology here because there is still a lot to be done. However, the technology is strong albeit not all the way there yet. Management is in the midst of turning around the company from a top and bottom-line perspective, with costs shrinking and topline continuing to grow year-over-year.

Here were some nice quotes from the University of North Alabama about the decision to go with ANY:

Stephen Putman, Chief Information Officer for UNA, said, “The decision to go with VDI at UNA had been debated for many years.  After deciding to pursue VDI initially for labs and classrooms, we quickly realized finding the right technology was a challenge. We contacted several technology providers and were overwhelmed with the number of available solutions. HVE ConneXions was presented to us by Howard Technologies and we quickly realized HVE was very knowledgable and had put much research and development into providing a highly optimized VDI solution.”

And some thoughts about the deal from ANY:

Dave Harmon, VP of Virtualization for Sphere 3D said, “HVE, Howard and Datrium technology staff went through a comprehensive process of environment analysis, VDI infrastructure requirements, and onsite interviews with UNA staff to determine their goals and expectations of a desktop virtualization solution.We were told that other vendors were focused on meeting the budget and failed to address the unique requirements at hand for UNA.”

Harmon added, “We believe it was HVE’s overall end-to-end solution that encompasses all aspects of VDI, our high-level of customer satisfaction and virtualization competency, that set us apart for this win.  It’s a great partnership with UNA, Howard, Datrium and HVE that will prove to be beneficial for UNA‘s technology education objectives long-term.”

Sphere 3D Corp. (NASDAQ:ANY) has a $20.28M market cap and 4.13M shares outstanding. While many on Wall Street think this stock could be dropping back to a dollar soon, the technology requires a double-take because of more and more data leaks in the news (see Verizon this week). Data management will be one of the most important sectors in the near future and having a company like this on watch is a good thing. For continuing coverage on shares of $ANY stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

Disclosure: we hold no position in $ANY, either long or short, and we have not been compensated for this article.

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