Spire Global, Inc. (NYSE:SPIR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Spire Global, Inc. (NYSE:SPIR) has received a consensus rating of “Moderate Buy” from the seven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.60.

A number of brokerages recently issued reports on SPIR. Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and lifted their price target for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Canaccord Genuity Group boosted their price target on Spire Global from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Robert W. Baird raised their price objective on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Alliance Global Partners boosted their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 14th.

Insider Activity at Spire Global

In other news, COO Theresa Condor sold 17,592 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was 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 in the company, valued at $5,570,535.04. The trade was a 4.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Platzer sold 50,238 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total value of $742,015.26. Following the sale, the chief executive officer now directly owns 1,891,703 shares in the company, valued at $27,940,453.31. This trade represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,481 shares of company stock valued at $1,380,714. 17.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPIR. State Street Corp grew its position in Spire Global by 53.1% in the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after purchasing an additional 148,803 shares during the period. Stifel Financial Corp boosted its holdings in shares of Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after buying an additional 76,119 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Spire Global during the second quarter valued at approximately $722,000. Harbor Capital Advisors Inc. bought a new position in Spire Global in the third quarter worth approximately $629,000. Finally, Geode Capital Management LLC lifted its stake in shares of Spire Global by 9.0% during the 3rd quarter. Geode Capital Management LLC now owns 506,093 shares of the company’s stock valued at $5,057,000 after buying an additional 41,612 shares in the last quarter. Institutional investors own 19.97% of the company’s stock.

Spire Global Trading Up 5.1 %

Shares of Spire Global stock opened at $19.11 on Thursday. Spire Global has a 12 month low of $6.26 and a 12 month high of $19.50. The firm has a market capitalization of $464.79 million, a P/E ratio of -5.49 and a beta of 2.24. The business has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $11.77.

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.