Why Sphere 3D Corp (NASDAQ:ANY) Shares Could Eventually Recover

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Sphere 3D Corp (NASDAQ:ANY) shares were down 23.37% on Tuesday but recovered 7.50% to $0.215 in after-hours trading. Share prices have been trading in a 52-week range of $0.18 to $2.00. The company has a market cap of $13.49 million at 51.88 million shares outstanding.

Sphere 3D Corp received another unsolicited offer for some of its assets, signaling strong investor interest and confidence in the company. For now, the company will evaluate these and other potential transactions that could seek to increase shareholder value before providing further details and updates. Nonetheless, it views the second unsolicited proposal as a further indication of confidence in its business.

The company delivers data management, and desktop and application virtualization solutions via hybrid Cloud, Cloud and on-premise implementations through its global reseller network.  Along with its wholly-owned subsidiaries Overland Storage and Tandberg Data, the company has a strong portfolio of brands including Glassware 2.0, NEO, RDX, SnapCLOUD, SnapScale, SnapServer, SnapSync and V3.

Sphere 3D Corp announced that it has successfully completed a Proof-of-Concept for its Glassware 2.0 application containerization technology in a highly secure enterprise with mission critical applications.

“Glassware 2.0 is able to take complex multi-dependent legacy applications and move them to modernized infrastructure. Whether choosing a public, private or hybrid cloud, organization with dependency on legacy applications potentially face loss of income and productivity, and for some highly regulated sectors such as healthcare, government, utilities and financial services, potential fines from regulators,” the press release stated.

This technology allows organizations totackle their enterprise applications that need modernizing instead of being vulnerable to obsolescence that leads to common failures in sustainability, security, and reputation. It is currently available both as an appliance as well as through Microsoft Azure.

Glassware 2.0 allows organizations totackle their enterprise applications that need modernizing instead of being vulnerable to obsolescence that leads to common failures in sustainability, security, and reputation. It is currently available both as an appliance as well as through Microsoft Azure. It aims to address a mountain of technical debt within an organization’s IT infrastructure, which poses risk to the business that increases over time.

However, it may be too premature to buy Sphere 3D Corp stock for now as it has been on a steady downtrend for the most part of the year and has yet to show signs of bottoming out. Volume has spiked in November until this month on the unsolicited offers that the company has received, as well as forecasts that the thin film solar cells market could grow to $30 billion by 2024.

According to Global Market Insights Inc, thin film solar cells market share contributed over 90% of regional revenue in 2015 and is expected to exceed 15 GW by 2024 in the US. Extension of investment tax credit in commercial and residential application helps to reduce the payback period for PV system will drive the foster industry growth.

“Increasing electricity demand mainly from rural area among developing countries coupled with regulatory measures toward energy conservation will stimulate the thin film solar cells market size in future. High initial cost may act as a restraint for industry in near terms,” the report noted.

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With an upbringing rooted in deep ethical values, Yashu Gola knows how to put honesty and dedication into his articles. This young and dynamic financial analyst has done his graduation in IT engineering. His interests in financial writing have once brought him to our digital doorsteps. Since then, he has been an integral part of ForexMinute.com and writes the most captivating news-articles on the foreign exchange industry, cryptocurrencies, and medical marijuana trading.