Brokerages Set Spire Global, Inc. (NYSE:SPIR) Target Price at $17.70

Shares of Spire Global, Inc. (NYSE:SPIR) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $17.70.

Several brokerages have weighed in on SPIR. Stifel Nicolaus lowered their target price on Spire Global from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Canaccord Genuity Group upped their price objective on shares of Spire Global from $14.50 to $15.50 and gave the stock a “buy” rating in a research report on Thursday, April 10th. Finally, Robert W. Baird lowered their target price on shares of Spire Global from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Tuesday, April 1st.

Insiders Place Their Bets

In related news, Chairman Peter Platzer sold 27,564 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $8.57, for a total value of $236,223.48. Following the sale, the chairman now owns 1,615,902 shares in the company, valued at $13,848,280.14. This represents a 1.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Boyd C. Johnson sold 11,304 shares of Spire Global stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following the transaction, the chief accounting officer now directly owns 300,304 shares of the company’s stock, valued at approximately $3,384,426.08. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,314 shares of company stock worth $3,069,869. 17.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spire Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPIR. State Street Corp increased its stake in shares of Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after purchasing an additional 148,803 shares in the last quarter. Jane Street Group LLC increased its position in Spire Global by 96.4% during the third quarter. Jane Street Group LLC now owns 55,440 shares of the company’s stock worth $554,000 after buying an additional 27,219 shares in the last quarter. Barclays PLC lifted its position in shares of Spire Global by 321.5% in the third quarter. Barclays PLC now owns 31,875 shares of the company’s stock valued at $318,000 after acquiring an additional 24,312 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Spire Global by 9.0% during the third quarter. Geode Capital Management LLC now owns 506,093 shares of the company’s stock valued at $5,057,000 after acquiring an additional 41,612 shares during the last quarter. Finally, Sanctuary Advisors LLC increased its position in Spire Global by 15.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company’s stock worth $124,000 after purchasing an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 19.97% of the company’s stock.

Spire Global Price Performance

Shares of NYSE:SPIR opened at $10.47 on Friday. The stock has a market cap of $324.22 million, a P/E ratio of -3.01 and a beta of 2.42. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43. The firm has a fifty day moving average price of $9.42 and a 200 day moving average price of $12.40.

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.