Spire Global (NYSE:SPIR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Spire Global (NYSE:SPIR) had its price target hoisted by investment analysts at Canaccord Genuity Group from $15.50 to $16.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 69.85% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Robert W. Baird lowered their price target on Spire Global from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 1st. Stifel Nicolaus lowered their target price on shares of Spire Global from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. 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 MarketBeat.com, Spire Global currently has an average rating of “Moderate Buy” and an average price target of $17.80.

Spire Global Trading Down 3.1 %

NYSE SPIR opened at $9.42 on Tuesday. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43. The company has a market capitalization of $291.71 million, a price-to-earnings ratio of -2.71 and a beta of 2.42. The stock’s 50 day moving average is $9.35 and its two-hundred day moving average is $12.36.

Insider Activity

In other news, Chairman Peter Platzer sold 145,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $10.38, for a total transaction of $1,511,328.00. Following the transaction, the chairman now directly owns 1,694,757 shares in the company, valued at approximately $17,591,577.66. This represents a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Theresa Condor sold 17,979 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $202,623.33. Following the completion of the sale, the chief executive officer now directly owns 359,173 shares of the company’s stock, valued at approximately $4,047,879.71. This represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 295,314 shares of company stock worth $3,069,869. 17.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Jane Street Group LLC raised its position in shares of 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 acquiring an additional 27,219 shares during the last quarter. Barclays PLC increased its position in Spire Global by 321.5% in the third quarter. Barclays PLC now owns 31,875 shares of the company’s stock worth $318,000 after purchasing an additional 24,312 shares during the period. Geode Capital Management LLC raised its holdings in Spire Global by 9.0% during the 3rd quarter. Geode Capital Management LLC now owns 506,093 shares of the company’s stock worth $5,057,000 after purchasing an additional 41,612 shares during the last quarter. Sanctuary Advisors LLC lifted 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 valued at $124,000 after purchasing an additional 1,700 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Spire Global by 62.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 102,090 shares of the company’s stock valued at $1,436,000 after purchasing an additional 39,175 shares during the last quarter. 19.97% of the stock is currently owned by institutional investors.

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.