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

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

Other equities analysts have also issued research reports about the company. 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 note on Thursday, November 14th. Robert W. Baird lifted their price objective 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. Finally, Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and upped their target price for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Three equities research 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, Spire Global currently has an average rating of “Moderate Buy” and an average price target of $20.80.

Spire Global Price Performance

Shares of Spire Global stock traded down $0.67 on Tuesday, hitting $20.12. 141,533 shares of the company’s stock traded hands, compared to its average volume of 471,940. The firm’s 50-day moving average price is $15.62 and its two-hundred day moving average price is $12.34. The stock has a market capitalization of $489.20 million, a PE ratio of -5.79 and a beta of 2.27. Spire Global has a one year low of $6.26 and a one year high of $21.43.

Insider Buying and Selling

In other Spire Global news, CFO Leonardo Basola sold 13,278 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $14.77, for a total transaction of $196,116.06. Following the sale, the chief financial officer now directly owns 236,479 shares of the company’s stock, valued at $3,492,794.83. The trade was a 5.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Theresa Condor sold 17,592 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were 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 of the company’s stock, valued at $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 ninety days, insiders sold 93,481 shares of company stock valued at $1,380,714. Company insiders own 17.11% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPIR. Sanctuary Advisors LLC grew its holdings in Spire Global by 15.9% during the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company’s stock worth $124,000 after purchasing an additional 1,700 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Spire Global by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 51,048 shares of the company’s stock worth $718,000 after acquiring an additional 2,441 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Spire Global in the 4th quarter valued at $37,000. Charles Schwab Investment Management Inc. lifted its holdings in Spire Global by 4.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 69,480 shares of the company’s stock valued at $694,000 after purchasing an additional 3,072 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Spire Global by 13.6% in the fourth quarter. Rhumbline Advisers now owns 30,007 shares of the company’s stock valued at $422,000 after purchasing an additional 3,585 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.