Spire Global (NYSE:SPIR) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Spire Global (NYSE:SPIR) had its price target increased by equities research analysts at Robert W. Baird from $11.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 25.22% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and raised their price target for the stock from $8.00 to $20.00 in a research note on Thursday, November 14th. Alliance Global Partners increased their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group boosted their target price on shares of Spire Global from $18.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.40.

Spire Global Price Performance

Spire Global stock opened at $10.38 on Wednesday. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43. The company’s 50-day moving average is $14.82 and its 200 day moving average is $12.40. The firm has a market capitalization of $267.18 million, a P/E ratio of -2.98 and a beta of 2.34.

Insiders Place Their Bets

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

Institutional Trading of Spire Global

Several hedge funds and other institutional investors have recently bought and sold shares of SPIR. JPMorgan Chase & Co. lifted its stake in shares of Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company’s stock worth $147,000 after purchasing an additional 597 shares during the last quarter. Two Sigma Investments LP raised its holdings in Spire Global by 4.3% in the fourth quarter. Two Sigma Investments LP now owns 38,009 shares of the company’s stock worth $535,000 after purchasing an additional 1,550 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Spire Global by 15.9% during the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company’s stock valued at $124,000 after buying an additional 1,700 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Spire Global by 5.0% during the fourth quarter. Bank of New York Mellon Corp now owns 51,048 shares of the company’s stock valued at $718,000 after buying an additional 2,441 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Spire Global in the 4th quarter valued at about $37,000. Institutional investors own 19.97% of the company’s stock.

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.