Spire Global, Inc. (NYSE:SPIR) Short Interest Down 21.0% in November

Spire Global, Inc. (NYSE:SPIR) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 2,300,000 shares, a drop of 21.0% from the October 31st total of 2,910,000 shares. Based on an average daily volume of 292,700 shares, the days-to-cover ratio is currently 7.9 days. Approximately 12.5% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SPIR shares. Alliance Global Partners lifted their price objective on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Robert W. Baird upped their price objective on shares of Spire Global from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Raymond James restated a “market perform” rating on shares of Spire Global in a research report on Wednesday, August 28th. Canaccord Genuity Group lifted their price target on shares of Spire Global from $12.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Baird R W lowered Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.60.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SPIR. Vanguard Group Inc. boosted its holdings in shares of Spire Global by 23.1% during the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after buying an additional 144,047 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in Spire Global during the first quarter worth about $27,000. DNB Asset Management AS grew its holdings in Spire Global by 117.5% in the second quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock worth $1,145,000 after purchasing an additional 57,137 shares during the period. ARS Investment Partners LLC bought a new position in shares of Spire Global during the second quarter valued at approximately $806,000. Finally, LA Financiere DE L Echiquier lifted its holdings in shares of Spire Global by 31.2% during the second quarter. LA Financiere DE L Echiquier now owns 101,000 shares of the company’s stock valued at $1,095,000 after purchasing an additional 24,000 shares during the last quarter. Institutional investors own 19.97% of the company’s stock.

Spire Global Stock Up 1.0 %

Shares of NYSE SPIR opened at $16.17 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24. Spire Global has a 12 month low of $4.71 and a 12 month high of $19.40. The firm has a fifty day simple moving average of $11.13 and a two-hundred day simple moving average of $10.54.

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.