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

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.

Shares of Spire Global, Inc. (NYSE:SPIR - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $18.20.

A number of equities research analysts have issued reports on SPIR shares. Canaccord Genuity Group boosted their target price 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 lifted their price target on Spire Global from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th.

Insider Activity at Spire Global

In other news, Chairman Peter Platzer sold 20,799 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $10.92, for a total value of $227,125.08. Following the completion of the transaction, the chairman owned 1,593,400 shares in the company, valued at $17,399,928. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stephen Messer sold 16,660 shares of Spire Global stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $10.85, for a total transaction of $180,761.00. Following the transaction, the director directly owned 82,062 shares of the company's stock, valued at approximately $890,372.70. This trade represents a 16.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 193,557 shares of company stock valued at $2,259,464. Company insiders own 14.68% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Spire Global by 6.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company's stock valued at $147,000 after buying an additional 597 shares during the period. Two Sigma Investments LP raised its stake 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 period. Bank of New York Mellon Corp lifted its holdings in Spire Global by 3.4% during the first 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 in the last quarter. Rhumbline Advisers boosted its position in shares of Spire Global by 6.9% in the first quarter. Rhumbline Advisers now owns 32,075 shares of the company's stock worth $259,000 after purchasing an additional 2,068 shares during the period. Finally, AlphaQuest LLC increased its stake in shares of Spire Global by 99.1% in the second quarter. AlphaQuest LLC now owns 4,550 shares of the company's stock worth $54,000 after purchasing an additional 2,265 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

Spire Global Price Performance

Shares of SPIR traded down $0.07 during mid-day trading on Monday, hitting $9.74. The stock had a trading volume of 362,198 shares, compared to its average volume of 653,524. Spire Global has a 52 week low of $6.26 and a 52 week high of $21.43. The business has a fifty day moving average price of $11.05 and a 200-day moving average price of $11.32. The firm has a market cap of $302.72 million, a P/E ratio of -2.80 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.