Alliance Global Partners Raises Spire Global (NYSE:SPIR) Price Target to $24.00

Spire Global (NYSE:SPIR) had its price objective increased by Alliance Global Partners from $17.00 to $24.00 in a research report sent to investors on Thursday, MarketBeat reports. Alliance Global Partners currently has a buy rating on the stock.

SPIR has been the topic of a number of other reports. Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and lifted their price target for the stock from $8.00 to $20.00 in a research note on Thursday. Raymond James reissued a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Canaccord Genuity Group restated a “buy” rating and set a $12.00 price target (down from $20.00) on shares of Spire Global in a research report on Tuesday, September 10th. Robert W. Baird lifted their price target on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Baird R W downgraded Spire Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Spire Global Stock Performance

Shares of SPIR opened at $13.48 on Thursday. The stock has a 50-day moving average price of $10.02 and a 200-day moving average price of $10.25. The company has a market cap of $327.83 million, a PE ratio of -3.87 and a beta of 1.96. Spire Global has a 12-month low of $4.56 and a 12-month high of $19.40. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

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 the company. NewGen Asset Management Ltd lifted its stake in shares of Spire Global by 406.3% in the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock valued at $4,390,000 after purchasing an additional 325,000 shares during the last quarter. Ancora Advisors LLC increased its holdings in Spire Global by 429.2% during the 1st quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock worth $3,953,000 after purchasing an additional 267,197 shares during the period. State Street Corp increased its holdings in shares of Spire Global by 53.1% in the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock valued at $4,284,000 after acquiring an additional 148,803 shares during the period. Vanguard Group Inc. increased its holdings in shares of Spire Global by 23.1% in the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after acquiring an additional 144,047 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Spire Global by 45.7% in the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock valued at $2,424,000 after acquiring an additional 76,119 shares during the period. 19.97% of the stock is 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.