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

Spire Global (NYSE:SPIR) had its target price upped by Canaccord Genuity Group from $18.00 to $24.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also issued reports on SPIR. Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and upped their target price for the company from $8.00 to $20.00 in a report on Thursday, November 14th. Robert W. Baird upped their price objective on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Alliance Global Partners lifted their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Spire Global has a consensus rating of “Moderate Buy” and a consensus target price of $20.80.

Spire Global Stock Performance

Spire Global stock opened at $19.86 on Tuesday. Spire Global has a fifty-two week low of $6.26 and a fifty-two week high of $21.43. The firm’s 50-day simple moving average is $15.62 and its 200 day simple moving average is $12.34. The stock has a market cap of $483.00 million, a PE ratio of -5.71 and a beta of 2.27.

Insider Buying and Selling

In other Spire Global news, CAO Boyd C. Johnson sold 12,373 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total transaction of $182,749.21. Following the sale, the chief accounting officer now owns 311,608 shares of the company’s stock, valued at $4,602,450.16. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Peter Platzer sold 50,238 shares of the firm’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 $742,015.26. Following the completion of the transaction, the chief executive officer now directly owns 1,891,703 shares of the company’s stock, valued at $27,940,453.31. The trade was a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,481 shares of company stock valued at $1,380,714. 17.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Spire Global

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Spire Global by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock valued at $15,540,000 after acquiring an additional 64,632 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Spire Global in the fourth quarter worth $1,902,000. Promus Capital LLC bought a new position in Spire Global in the 4th quarter worth about $135,000. SBI Securities Co. Ltd. purchased a new stake in shares of Spire Global in the 4th quarter valued at about $37,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Spire Global by 5.0% during the 4th quarter. Bank of New York Mellon Corp now owns 51,048 shares of the company’s stock valued at $718,000 after acquiring an additional 2,441 shares during the last quarter. 19.97% of the stock is currently owned by institutional investors.

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.