Canaccord Genuity Group Cuts Spire Global (NYSE:SPIR) Price Target to $14.50

Spire Global (NYSE:SPIR) had its price target lowered by Canaccord Genuity Group from $15.00 to $14.50 in a research note issued to investors on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

SPIR has been the topic of a number of other reports. Craig Hallum upgraded shares of Spire Global from a “hold” rating to a “buy” rating and raised their price objective for the stock from $8.00 to $20.00 in a report on Thursday, November 14th. Robert W. Baird raised their price objective on shares of Spire Global from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, March 5th. Finally, Alliance Global Partners raised their price objective on shares of Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Spire Global currently has an average rating of “Moderate Buy” and an average price target of $18.30.

Spire Global Stock Performance

SPIR opened at $8.61 on Friday. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43. The firm’s fifty day moving average is $14.24 and its two-hundred day moving average is $12.54. The firm has a market cap of $221.45 million, a PE ratio of -2.47 and a beta of 2.34.

Insider Buying and Selling at Spire Global

In other Spire Global news, CAO Boyd C. Johnson sold 11,304 shares of Spire Global stock in a transaction on Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $127,396.08. Following the sale, the chief accounting officer now directly owns 300,304 shares in the company, valued at approximately $3,384,426.08. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Peter Platzer sold 51,346 shares of Spire Global stock in a transaction on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $578,669.42. Following the completion of the sale, the chairman now owns 1,840,357 shares in the company, valued at $20,740,823.39. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,457 shares of company stock worth $2,580,366. Insiders own 17.11% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Spire Global in the 4th quarter valued at about $37,000. BNP Paribas Financial Markets bought a new position in shares of Spire Global in the 4th quarter valued at about $42,000. Quest Partners LLC grew its position in shares of Spire Global by 869,900.0% in the 3rd quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock valued at $87,000 after acquiring an additional 8,699 shares during the period. Promus Capital LLC bought a new position in shares of Spire Global in the 4th quarter valued at about $135,000. Finally, JPMorgan Chase & Co. grew its position in shares of Spire Global by 6.1% in the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company’s stock valued at $147,000 after acquiring an additional 597 shares during the period. Institutional investors own 19.97% of the company’s stock.

About Spire Global

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.