Answer: its new density would be 0.016 times that of its original.
Explanation: 
The density of a spherical object can be calculated using following formula
ρ = 4/3 x 
 x r³
 x r³
Here r is the radius of the spherical object 
and 
 is a mathematical constant having value 22/7
 is a mathematical constant having value 22/7
Let's assume the original diameter of the object is d. 
Therefore its radius will be = d/2 = 0.5d
Let us plug in this value and find density ρ₁
ρ₁ = 4/3 x 
 x (r)³
 x (r)³
ρ₁ = 4/3 x 22/7 x (0.5d)³
Now we are compressing the object so that its diameter becomes one quarter of the original.
The new diameter of the object would be d/4 = 0.25d 
Therefore the new radius would be 0.25d/2 = 0.125d 
Let us find the new density ρ₂
ρ₂ = 4/3 x 22/7 x (0.125d)³
Let us compare ρ₁ and ρ₂ now 
ρ₂/ρ₁ = ( 4/3 x 22/7 x (0.125d)³) / ( 4/3 x 22/7 x (0.5d)³ ) 
We can cancel out 4/3 and 22/7 here 
ρ₂/ρ₁ = (0.125d)³ / (0.5d)³
d gets cancelled.
ρ₂/ρ₁ = 0.01562
ρ₂ = 0.01562 ρ₁
ρ₂ is new density and ρ₁ is original density 
Therefore we can say that its new density would be 0.016 times that of its original.