Spire Global (NYSE:SPIR) Price Target Raised to $24.00 at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its price objective increased by research analysts at Canaccord Genuity Group from $18.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 137.15% from the company’s previous close.

A number of other analysts have also issued reports on the company. Robert W. Baird boosted their price target on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and lifted their price objective for the company from $8.00 to $20.00 in a report on Thursday, November 14th. Finally, Alliance Global Partners increased their target price on shares of Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Spire Global Trading Down 49.0 %

Shares of SPIR opened at $10.12 on Tuesday. Spire Global has a 12-month low of $6.26 and a 12-month high of $21.43. The firm has a fifty day moving average price of $15.72 and a 200-day moving average price of $12.38. The firm has a market capitalization of $246.10 million, a P/E ratio of -2.91 and a beta of 2.27.

Insider Buying and Selling at Spire Global

In other Spire Global news, CEO Peter Platzer sold 50,238 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $14.77, for a total value of $742,015.26. Following the completion of the sale, the chief executive officer now owns 1,891,703 shares in the company, valued at approximately $27,940,453.31. This represents a 2.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Theresa Condor sold 17,592 shares of Spire Global stock in a transaction that occurred 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 transaction, the chief operating officer now owns 377,152 shares in the company, valued at approximately $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 quarter, insiders sold 93,481 shares of company stock worth $1,380,714. Insiders own 17.11% of the company’s stock.

Institutional Trading of Spire Global

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new stake in Spire Global in the 2nd quarter valued at about $106,000. Harbor Capital Advisors Inc. acquired a new stake in Spire Global in the 3rd quarter valued at approximately $629,000. Van ECK Associates Corp acquired a new position in Spire Global during the third quarter worth $172,000. Quest Partners LLC raised its holdings in shares of Spire Global by 869,900.0% in the 3rd quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock valued at $87,000 after buying an additional 8,699 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 3,072 shares during the period. 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.