Herald Investment Management Ltd Boosts Stock Position in Spire Global, Inc. $SPIR

Key Points

• Herald Investment Management Ltd increased its stake in Spire Global by 67.9% during the second quarter, owning 1.24% of the company, valued at approximately $4.6 million.
• Spire Global has seen significant activity from institutional investors, with 19.97% of its stock owned by them and various hedge funds adjusting their positions in the company.
• Despite a mix of analyst ratings including a sell from Weiss Ratings, the average rating is a Moderate Buy with a price target of $18.20.

Herald Investment Management Ltd grew its position in shares of Spire Global, Inc. (NYSE:SPIR - Free Report) by 67.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 386,249 shares of the company's stock after purchasing an additional 156,249 shares during the quarter. Herald Investment Management Ltd owned approximately 1.24% of Spire Global worth $4,596,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SPIR. Two Sigma Investments LP boosted its stake in Spire Global by 4.3% in the fourth quarter. Two Sigma Investments LP now owns 38,009 shares of the company's stock worth $535,000 after buying an additional 1,550 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Spire Global by 6.9% in the 1st quarter. Rhumbline Advisers now owns 32,075 shares of the company's stock worth $259,000 after acquiring an additional 2,068 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Spire Global by 538.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 652,062 shares of the company's stock valued at $5,275,000 after purchasing an additional 549,972 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of Spire Global during the 1st quarter valued at $99,000. Finally, PFG Investments LLC purchased a new position in Spire Global in the 1st quarter worth $287,000. Institutional investors own 19.97% of the company's stock.

Spire Global Price Performance

NYSE SPIR opened at $13.73 on Monday. Spire Global, Inc. has a 1 year low of $6.85 and a 1 year high of $21.43. The stock has a market capitalization of $426.73 million, a PE ratio of -3.95 and a beta of 2.41. The business's 50-day moving average is $9.97 and its 200 day moving average is $10.17.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (e+)" rating on shares of Spire Global in a research note on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.20.

Insider Activity

In related news, Chairman Peter Platzer sold 130,191 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $12.25, for a total transaction of $1,594,839.75. Following the completion of the transaction, the chairman owned 1,614,199 shares in the company, valued at $19,773,937.75. This represents a 7.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.68% of the company's stock.

Spire Global 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.

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