Canaccord Genuity Group Issues Positive Forecast for Spire Global (NYSE:SPIR) Stock Price

Spire Global (NYSE:SPIR) had its price target upped by Canaccord Genuity Group from $12.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 33.53% from the company’s previous close.

Several other research analysts also recently weighed in on SPIR. Robert W. Baird boosted their target price on shares of Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James reissued a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Baird R W lowered Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and upped their price objective for the company from $8.00 to $20.00 in a research note on Thursday. Finally, Alliance Global Partners upped their price target on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Spire Global has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Spire Global Stock Performance

Shares of SPIR opened at $13.48 on Friday. The company has a market capitalization of $327.83 million, a PE ratio of -3.93 and a beta of 1.96. Spire Global has a 52-week low of $4.56 and a 52-week high of $19.40. The company has a 50-day simple moving average of $9.81 and a 200-day simple moving average of $10.21. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.35.

Hedge Funds Weigh In On Spire Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPIR. Vanguard Group Inc. increased its holdings in shares of Spire Global by 23.1% in 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. raised its position in Spire Global by 225.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company’s stock valued at $853,000 after buying an additional 49,258 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Spire Global in the 3rd quarter valued at approximately $629,000. NewGen Asset Management Ltd grew its stake in shares of Spire Global by 406.3% during the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock worth $4,390,000 after acquiring an additional 325,000 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Spire Global by 117.5% in the second quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock valued at $1,145,000 after purchasing an additional 57,137 shares during the last quarter. 19.97% of the stock is currently owned by institutional investors.

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.