Spire Global, Inc. (NYSE:SPIR) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Spire Global, Inc. has garnered a consensus rating of "Moderate Buy" from five analysts, with an average target price of $18.20.
• Insiders have recently sold significant amounts of stock, including Director Stephen Messer and Chairman Peter Platzer, representing decreases of 16.88% and 7.46% in their respective holdings.
• JPMorgan Chase and Wells Fargo increased their stakes in Spire Global in the fourth quarter, indicating renewed interest from institutional investors.

Shares of Spire Global, Inc. (NYSE:SPIR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.20.

Separately, Robert W. Baird upped their target price 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.

Spire Global Trading Down 4.0%

Shares of SPIR stock traded down $0.37 on Friday, reaching $8.79. 584,966 shares of the stock were exchanged, compared to its average volume of 557,319. The business's 50 day moving average price is $10.45 and its 200 day moving average price is $10.16. The company has a market capitalization of $273.04 million, a price-to-earnings ratio of -2.52 and a beta of 2.38. Spire Global has a twelve month low of $6.85 and a twelve month high of $21.43.

Insider Transactions at Spire Global

In other news, Chairman Peter Platzer sold 20,799 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $10.92, for a total value of $227,125.08. Following the completion of the sale, the chairman directly owned 1,593,400 shares of the company's stock, valued at approximately $17,399,928. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Messer sold 16,660 shares of the company's 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 completion of the sale, the director directly owned 82,062 shares of the company's stock, valued at $890,372.70. The trade was a 16.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,557 shares of company stock valued at $2,259,464 over the last ninety days. Corporate insiders own 14.68% of the company's stock.

Institutional Investors Weigh In On Spire Global

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Spire Global by 6.1% during the fourth quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company's stock worth $147,000 after purchasing an additional 597 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Spire Global by 50.8% during the fourth quarter. Wells Fargo & Company MN now owns 10,547 shares of the company's stock worth $148,000 after purchasing an additional 3,553 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Spire Global during the fourth quarter worth about $668,000. Raymond James Financial Inc. purchased a new position in Spire Global during the fourth quarter worth about $1,902,000. Finally, Barclays PLC raised its holdings in Spire Global by 10.8% during the fourth quarter. Barclays PLC now owns 35,325 shares of the company's stock worth $497,000 after purchasing an additional 3,450 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

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.