Spire Global (NYSE:SPIR) Price Target Raised to $16.00 at Canaccord Genuity Group

Spire Global (NYSE:SPIR) had its price objective raised by equities researchers at Canaccord Genuity Group from $15.50 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 52.82% from the company’s current price.

Other analysts also recently issued reports about the company. Stifel Nicolaus decreased their price target on Spire Global from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Robert W. Baird dropped their target price on shares of Spire Global from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $17.80.

Spire Global Price Performance

Spire Global stock opened at $10.47 on Tuesday. The business has a 50 day simple moving average of $9.42 and a 200-day simple moving average of $12.40. Spire Global has a 12 month low of $6.26 and a 12 month high of $21.43. The stock has a market capitalization of $324.22 million, a PE ratio of -3.01 and a beta of 2.42.

Insider Activity at Spire Global

In other news, Chairman Peter Platzer sold 27,564 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $8.57, for a total transaction of $236,223.48. Following the completion of the sale, the chairman now directly owns 1,615,902 shares in the company, valued at $13,848,280.14. This represents a 1.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Boyd C. Johnson sold 11,304 shares of Spire Global stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $127,396.08. Following the completion of the transaction, the chief accounting officer now directly owns 300,304 shares in the company, valued at $3,384,426.08. This represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 295,314 shares of company stock valued at $3,069,869. 17.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Spire Global

Institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in shares of Spire Global by 538.7% during the first quarter. Harbor Capital Advisors Inc. now owns 652,062 shares of the company’s stock worth $5,275,000 after acquiring an additional 549,972 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Spire Global during the 4th quarter worth approximately $1,902,000. Granahan Investment Management LLC acquired a new position in shares of Spire Global in the 4th quarter valued at approximately $1,774,000. Vanguard Group Inc. boosted its stake in shares of Spire Global by 6.2% during the 4th 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. Finally, Nkcfo LLC acquired a new stake in shares of Spire Global during the fourth quarter worth approximately $774,000. Institutional investors and hedge funds own 19.97% of the company’s stock.

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.