Spire Global (NYSE:SPIR) Price Target Lowered to $20.00 at Canaccord Genuity Group

Spire Global (NYSE:SPIR - Get Free Report) had its target price decreased by investment analysts at Canaccord Genuity Group from $24.00 to $20.00 in a report issued on Thursday, Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 102.22% from the stock's previous close.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their target price on Spire Global from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday. Robert W. Baird cut their target price on Spire Global from $20.00 to $15.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, Alliance Global Partners initiated coverage on shares of Spire Global in a research report on Thursday, April 18th. They set a "buy" rating and a $22.00 price target for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Spire Global currently has an average rating of "Buy" and a consensus target price of $17.60.

Spire Global Trading Down 12.8 %

Shares of SPIR traded down $1.45 during mid-day trading on Thursday, reaching $9.89. 2,609,334 shares of the company's stock traded hands, compared to its average volume of 446,461. Spire Global has a 12 month low of $2.80 and a 12 month high of $19.40. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.67 and a quick ratio of 1.67. The stock has a market cap of $240.52 million, a P/E ratio of -2.72 and a beta of 2.04. The stock's 50-day moving average is $11.53 and its two-hundred day moving average is $8.82.

Spire Global (NYSE:SPIR - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.25. The firm had revenue of $27.73 million during the quarter, compared to the consensus estimate of $29.23 million. Spire Global had a negative net margin of 60.51% and a negative return on equity of 66.20%. Research analysts forecast that Spire Global will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Spire Global

In other news, COO Theresa Condor sold 5,870 shares of the business's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total value of $66,859.30. Following the completion of the sale, the chief operating officer now directly owns 235,141 shares in the company, valued at $2,678,255.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Peter Platzer sold 12,534 shares of the firm's stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the completion of the sale, the chief executive officer now directly owns 1,462,238 shares in the company, valued at $16,654,890.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Theresa Condor sold 5,870 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $66,859.30. Following the completion of the sale, the chief operating officer now directly owns 235,141 shares of the company's stock, valued at approximately $2,678,255.99. The disclosure for this sale can be found here. Corporate insiders own 17.11% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ancora Advisors LLC boosted its position in shares of Spire Global by 429.2% during the first quarter. Ancora Advisors LLC now owns 329,457 shares of the company's stock worth $3,953,000 after buying an additional 267,197 shares during the period. CVI Holdings LLC purchased a new stake in Spire Global during the first quarter worth about $3,131,000. Vanguard Group Inc. boosted its stake 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 during the period. Lane Generational LLC boosted its stake in shares of Spire Global by 15.4% in the fourth quarter. Lane Generational LLC now owns 423,018 shares of the company's stock valued at $3,308,000 after purchasing an additional 56,348 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Spire Global by 225.5% in the first quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company's stock valued at $853,000 after purchasing an additional 49,258 shares in the last quarter. 19.97% of the stock is currently owned by hedge funds and other 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.