Stifel Nicolaus Cuts Spire Global (NYSE:SPIR) Price Target to $20.00

Spire Global (NYSE:SPIRFree Report) had its target price trimmed by Stifel Nicolaus from $24.00 to $20.00 in a report issued on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on the company. Canaccord Genuity Group cut their price objective on Spire Global from $25.00 to $24.00 and set a buy rating for the company in a report on Friday, March 22nd. Alliance Global Partners assumed coverage on Spire Global in a research note on Thursday, April 18th. They set a buy rating and a $22.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Spire Global has an average rating of Buy and a consensus price target of $17.60.

Read Our Latest Stock Analysis on Spire Global

Spire Global Price Performance

Shares of NYSE:SPIR opened at $9.88 on Thursday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.67 and a current ratio of 2.24. The firm has a market cap of $240.28 million, a price-to-earnings ratio of -2.84 and a beta of 2.04. The business has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $8.91. Spire Global has a fifty-two week low of $2.80 and a fifty-two week high of $19.40.

Spire Global (NYSE:SPIRGet Free Report) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.25. Spire Global had a negative net margin of 66.72% and a negative return on equity of 66.19%. The firm had revenue of $27.73 million during the quarter, compared to analysts’ expectations of $29.23 million. On average, analysts expect that Spire Global will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In other Spire Global news, CEO Peter Platzer sold 12,534 shares of Spire Global stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the transaction, the chief executive officer now owns 1,462,238 shares of the company’s stock, valued at $16,654,890.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Peter Platzer sold 12,534 shares of Spire Global stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total transaction of $142,762.26. Following the sale, the chief executive officer now owns 1,462,238 shares of the company’s stock, valued at approximately $16,654,890.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Theresa Condor sold 5,870 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total value of $66,859.30. Following the completion of the transaction, the chief operating officer now directly owns 235,141 shares in the company, valued at $2,678,255.99. The disclosure for this sale can be found here. Company insiders own 17.11% of the company’s stock.

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. Ancora Advisors LLC raised its holdings in shares of 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 acquiring an additional 267,197 shares in the last quarter. Vanguard Group Inc. raised its stake in Spire Global by 23.1% during the first quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after purchasing an additional 144,047 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Spire Global by 225.5% during the first quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company’s stock valued at $853,000 after purchasing an additional 49,258 shares during the last quarter. CVI Holdings LLC bought a new position in Spire Global during the first quarter valued at $3,131,000. Finally, K.J. Harrison & Partners Inc purchased a new position in shares of Spire Global in the 1st quarter worth $176,000. 19.97% of the stock is owned by institutional investors.

About Spire Global

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Spire Global (NYSE:SPIR)

Receive News & Ratings for Spire Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spire Global and related companies with MarketBeat.com's FREE daily email newsletter.