Sphere 3D Corp (NASDAQ:ANY) shares slid 13.04% on Tuesday to $0.322 then recovered 2.48% to $0.330 in after-hours trading. The company has a market cap of $19.20 million at 51.88 million shares outstanding. Share prices have been trading in a 52-week range of $0.18 to $2.00 so there’s a ways to go before hitting resistance.
Sphere 3D Corp is a company that 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. It also has brands including HVE ConneXions and UCX ConneXions dedicated to helping customers achieve their IT goals.
In a recent press release, Sphere 3D Corp announced that Biloxi Public Schools has selected HVE ConneXions Virtual Desktop Infrastructure technology for their classroom VDI environment expansion through authorized reseller, Howard Technologies. Howard Technology Solutions is a value-added reseller based out of Ellisville, Mississippi that strives to bring to market cutting-edge, reliable, high-quality technology equipment at affordable prices.
We are grateful for the opportunity to work with such a great team at Biloxi Schools on their digital transformation initiatives. Their investment in advanced virtualization technologies frees up valuable time for BPS staff to invest in other aspects of their operations and continue to deliver the best possible learning environment for the students of Biloxi,” remarked President of Virtualization and Professional Services for Sphere 3D Corp Joseph O’Daniel.
Biloxi Public Schools has already embraced the value of the digital classroom with an existing VDI footprint of three HVE-101-N appliances that supported 300 current users. The latest project with Sphere 3D Corp expands their environment from 300 to 900 concurrent users and provided VDI for several general-purpose labs, two advanced STEM Labs, and several classrooms.
The HVE solution was selected for several reasons, but ultimately the HVE next-generation hardware technology, performance, reliability, service, and overall TCO (total cost of ownership) made this decision easy. We really appreciate their turnkey offering that includes the automation of PCoIP zero clients (900), end user polices and controls through active directory, networking configurations, VMware Horizon View automation, and rapid hardware deployment with their integrated VMware appliances. HVE ConneXions provided a complete end-to-end solution that also included a server virtualization environment to support the control servers and high-availability requirements for end user access,” said IT director of BPS Alex Mitchell.
The daily stock chart of Sphere 3D Corp shows that it is still on a steady decline and might need a stronger catalyst to pull up from its dive. At the moment, the bounce is looking like a mere correction even as volume has picked up significantly. Price has yet to break past the $0.500 barrier to show that bullish momentum is gaining traction, possibly taking it up to the $0.750 then $1.00 area next.
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