Spire Global, Inc. (NYSE:SPIR) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Spire Global, Inc. (NYSE: SPIR) has been given an average rating of "Moderate Buy" by seven research firms, with a 1-year price target averaging $18.20.
• The stock recently opened at $9.59, indicating a significant 4.4% decline, alongside a market cap of $298.06 million.
• Insider selling activity has been notable, with Director Stephen Messer and Chairman Peter Platzer selling a combined 146,851 shares valued at approximately $1.77 million recently.

Spire Global, Inc. (NYSE:SPIR - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $18.20.

A number of analysts have weighed in on SPIR shares. Canaccord Genuity Group increased their price target on shares of Spire Global from $15.50 to $16.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Robert W. Baird increased their price target on shares of Spire Global from $11.00 to $13.00 and gave the company a "neutral" rating in a report on Thursday, May 15th.

Insiders Place Their Bets

In other news, Chairman Peter Platzer sold 130,191 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $12.25, for a total value of $1,594,839.75. Following the completion of the transaction, the chairman owned 1,614,199 shares in the company, valued at approximately $19,773,937.75. This represents a 7.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Messer sold 16,660 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $10.85, for a total transaction of $180,761.00. Following the completion of the transaction, the director owned 82,062 shares of the company's stock, valued at approximately $890,372.70. This represents a 16.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,557 shares of company stock valued at $2,259,464. Corporate insiders own 14.68% of the company's stock.

Institutional Investors Weigh In On Spire Global

A number of hedge funds have recently made changes to their positions in SPIR. JPMorgan Chase & Co. grew its holdings in Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company's stock worth $147,000 after acquiring an additional 597 shares during the last quarter. Two Sigma Investments LP grew its holdings in Spire Global by 4.3% during the 4th quarter. Two Sigma Investments LP now owns 38,009 shares of the company's stock worth $535,000 after acquiring an additional 1,550 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Spire Global by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 52,760 shares of the company's stock valued at $427,000 after purchasing an additional 1,712 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Spire Global by 6.9% in the 1st quarter. Rhumbline Advisers now owns 32,075 shares of the company's stock valued at $259,000 after purchasing an additional 2,068 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Spire Global by 99.1% during the 2nd quarter. AlphaQuest LLC now owns 4,550 shares of the company's stock worth $54,000 after acquiring an additional 2,265 shares during the last quarter. Institutional investors and hedge funds own 19.97% of the company's stock.

Spire Global Stock Down 2.4%

Spire Global stock traded down $0.24 during mid-day trading on Monday, reaching $9.54. The company had a trading volume of 228,054 shares, compared to its average volume of 650,587. Spire Global has a 52 week low of $6.26 and a 52 week high of $21.43. The company has a 50 day moving average of $11.03 and a 200-day moving average of $11.31. The firm has a market cap of $296.63 million, a price-to-earnings ratio of -2.75 and a beta of 2.38.

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.