Spire Global's (SPIR) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Spire Global's stock received a "sell (e+)" rating from Weiss Ratings, reflecting ongoing concerns about the company's performance.
• The company's share price reached $14.10 on Wednesday, with an exchange of 774,264 shares, surpassing its average trading volume.
• In recent institutional trading, several hedge funds increased their stakes in Spire Global, indicating growing interest from institutional investors.

Spire Global (NYSE:SPIR - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Spire Global Price Performance

SPIR traded up $0.69 on Wednesday, reaching $14.10. 774,264 shares of the stock were exchanged, compared to its average volume of 528,315. The company's 50-day moving average price is $10.17 and its 200 day moving average price is $10.25. The firm has a market capitalization of $438.23 million, a PE ratio of -4.05 and a beta of 2.41. Spire Global has a fifty-two week low of $6.85 and a fifty-two week high of $21.43.

Insider Activity

In other news, Chairman Peter Platzer sold 20,799 shares of the firm's stock in a transaction dated 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 directly owned 1,593,400 shares in the company, valued at $17,399,928. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.68% of the stock is currently owned by insiders.

Institutional Trading of Spire Global

A number of hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. purchased a new position in Spire Global in the second quarter valued at $25,000. BNP Paribas Financial Markets grew its position in shares of Spire Global by 84.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $33,000 after acquiring an additional 1,260 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Spire Global by 71.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company's stock worth $49,000 after buying an additional 1,699 shares during the last quarter. AlphaQuest LLC boosted its holdings in Spire Global by 99.1% in the 2nd quarter. AlphaQuest LLC now owns 4,550 shares of the company's stock worth $54,000 after buying an additional 2,265 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Spire Global by 55.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,963 shares of the company's stock worth $83,000 after buying an additional 2,479 shares during the last quarter. 19.97% of the stock is 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.

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