Spire Global (NYSE:SPIR) Given New $15.00 Price Target at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its price objective raised by Canaccord Genuity Group from $11.50 to $15.00 in a report published on Wednesday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on SPIR. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and increased their price target for the stock from $8.00 to $20.00 in a report on Thursday, November 14th. Robert W. Baird increased their target price on shares of Spire Global from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Alliance Global Partners boosted their price target on shares of Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Spire Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.40.

Spire Global Stock Performance

SPIR opened at $11.05 on Wednesday. The business’s 50 day moving average price is $14.92 and its 200 day moving average price is $12.41. The stock has a market capitalization of $268.81 million, a PE ratio of -3.18 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 Activity at Spire Global

In other news, CAO Boyd C. Johnson sold 11,304 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following the sale, the chief accounting officer now directly owns 300,304 shares in the company, valued at approximately $3,384,426.08. This trade represents a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Peter Platzer sold 51,346 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $578,669.42. Following the sale, the chairman now owns 1,840,357 shares in the company, valued at approximately $20,740,823.39. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 94,857 shares of company stock worth $1,069,038 in the last three months. 17.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spire Global

A number of institutional investors and hedge funds have recently made changes to their positions in SPIR. State Street Corp lifted its stake in Spire Global by 53.1% in the third quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after acquiring an additional 148,803 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Spire Global during the 4th quarter worth $1,902,000. Granahan Investment Management LLC acquired a new position in shares of Spire Global during the fourth quarter worth $1,774,000. Stifel Financial Corp increased its holdings in Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock valued at $2,424,000 after buying an additional 76,119 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Spire Global by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock valued at $15,540,000 after buying an additional 64,632 shares during the last quarter. 19.97% of the stock is owned by institutional investors and hedge funds.

About Spire Global

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.