Home Equities Score The reason behind the 2.9% increase in Sphere 3D Corp. (ANY) Stock

The reason behind the 2.9% increase in Sphere 3D Corp. (ANY) Stock

Sphere 3D Corp. (NASDAQ: ANY) a company specializing to deliver containerization, virtualization, and data management solutions via hybrid cloud, cloud, and on-premise implementations announced the closing of its underwritten public offering of 5,600,000 common shares at a price to the public of $1.25 per share.  ANY stock price increased adjacent to the news.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

At last check in after-market trading, shares of Sphere 3D Corp. (ANY) were up 2.9% at $1.42. ANY stock closed last session at $1.38, increasing 2.99% or $0.04. Shares of the company fluctuated between $1.35 and $1.4799 throughout the day. ANY shares have fallen by -40.77% over the last 12 months, and they have moved down by -9.21% in the past week.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Read More

About Public Offering

Sphere 3D provided Maxim Group LLC a 45-day option to acquire a maximum of additional 840,000 common shares, at the public offering price consisting of underwriting discounts and commissions, of which Maxim Group LLC has used its option to buy an additional 700,000 common shares.

Gross proceeds before subtracting underwriting discounts, commissions, and other offering costs were almost $7.9 million, including the overallotment. Maxim Group LLC was the sole book-running manager in relation with the offering.

First Quarter Financial Results

Revenue for the first quarter of 2021 was $0.9 million, in comparison to $1.0 million for the same quarter of the previous year. Gross margin for the first quarter of 2021 was 45.9%, versus 45.8% for the same period of the previous year

Operating expenses for the first quarter of 2021 were $1.7 million, in comparison to $1.6 million for a similar quarter of the prior year. Interest expense for the first quarter of 2021 was $509,000, from $9,000 for the first quarter last year.

Other income (expense), net for the first quarter of 2021 was $588,000 of expense, net, in comparison to $70,000 of income, net, for the first quarter of the previous year. Depreciation and amortization was $154,000 in the first quarter of 2021, versus $247,000 for the first quarter of 2020.

Net loss available to common shareholders for the first quarter of 2021 was $2.6 million, or a net loss of $0.27 per share, in comparison to $1.1 million, or a net loss of $0.28 per share, for the same period last year.

Conclusion

Closing of underwritten public offering combined with a financial result representing a consistent improvement in the company’s financials has surged investor interest, with ANY stock price increasing at last check.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

The Trade Desk Inc. (TTD) stock plunged during pre-market. Here’s to know why?

The Trade Desk Inc. (NASDAQ: TTD) stock gained by 0.76% at last close whereas the TTD stock price declines by 90.03% in the pre-market...

Synaptogenix Inc. (SNPX) stock soars during after-hour trading. Why so?

Synaptogenix Inc. (NASDAQ: SNPX) stock gained by 6.33% at last close while the SNPX stock price rises further by 13.48% in the after-hours trading...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Related News

Anpac Bio-Medical Science Inc. (ANPC) stock soars during pre-market trading. Here’s the update

Anpac Bio-Medical Science Inc. (NASDAQ: ANPC) stock gained by 0.46% at last close while the ANPC stock price surged by 22.40% in the pre-market...

Arrival Inc. (ARVL) stock falls during pre-market trading. Here’s what you should know?

Arrival Inc. (NASDAQ: ARVL) stock plunged by 4.96% at last close while the ARVL stock price declines by 9.68% in the pre-market trading session....

Why Zomedica Corp. (ZOM) stock jumped on Thursday?

Zomedica Corp. (ZOM) shares were climbed 4.04% in after-hours on Thursday, June 17, 2021, and close the day at $0.94 per share. Earlier, ZOM's...

Novan Inc. (NOVN) stock plunged during pre-market. Let’s find out why?

Novan Inc. (NASDAQ: NOVN) stock declined by 9.36% at last close while the NOVN stock price plunged by 18.77% in the pre-market trading. Novan...

Why Toughbuilt Industries Inc (TBLT) stock went up on Wednesday?

Toughbuilt Industries Inc (TBLT) stock jumped 12.35% in the after-market on Wednesday, June 16, 2021, and close at $0.96 per share. Earlier in the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam