Spire Global (NYSE:SPIR) Price Target Raised to $24.00 at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its target price boosted by investment analysts at Canaccord Genuity Group from $18.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 19.31% from the stock’s previous close.

SPIR has been the topic of a number of other research reports. Robert W. Baird boosted their target price on shares of Spire Global from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, November 14th. Finally, Alliance Global Partners increased their target price on Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.80.

Spire Global Trading Down 3.2 %

Spire Global stock traded down $0.67 during midday trading on Tuesday, reaching $20.12. The company’s stock had a trading volume of 141,533 shares, compared to its average volume of 471,940. The stock has a market cap of $489.20 million, a PE ratio of -5.79 and a beta of 2.27. Spire Global has a 52 week low of $6.26 and a 52 week high of $21.43. The business has a 50-day moving average price of $15.62 and a 200-day moving average price of $12.34.

Insider Transactions at Spire Global

In related news, CEO Peter Platzer sold 50,238 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $14.77, for a total value of $742,015.26. Following the completion of the sale, the chief executive officer now directly owns 1,891,703 shares of the company’s stock, valued at $27,940,453.31. The trade was a 2.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Theresa Condor sold 17,592 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total value of $259,833.84. Following the completion of the transaction, the chief operating officer now owns 377,152 shares in the company, valued at approximately $5,570,535.04. The trade was a 4.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,481 shares of company stock worth $1,380,714. Company insiders own 17.11% of the company’s stock.

Institutional Trading of Spire Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Spire Global during the fourth quarter valued at approximately $1,902,000. Promus Capital LLC bought a new position in shares of Spire Global during the fourth quarter valued at about $135,000. SBI Securities Co. Ltd. purchased a new position in Spire Global during the fourth quarter worth about $37,000. Bank of New York Mellon Corp grew its position in Spire Global by 5.0% in the 4th quarter. Bank of New York Mellon Corp now owns 51,048 shares of the company’s stock worth $718,000 after purchasing an additional 2,441 shares in the last quarter. Finally, Nkcfo LLC bought a new position in shares of Spire Global during the 4th quarter worth approximately $774,000. Institutional investors own 19.97% of the company’s stock.

Spire Global Company Profile

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.