Weiss Ratings Reaffirms "Sell (E+)" Rating for Spire Global (NYSE:SPIR)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for Spire Global (NYSE:SPIR), indicating a negative outlook on the stock's performance.
• Shares of Spire Global are currently trading at $11.56, up by 4.8%, with a market capitalization of approximately $359.41 million.
• Several hedge funds have recently increased their stakes in Spire Global, with Osaic Holdings, BNP Paribas, and Tower Research among those making significant investments.

Spire Global (NYSE:SPIR - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities research analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Spire Global Trading Up 4.8%

Shares of NYSE SPIR opened at $11.56 on Friday. The firm's 50-day moving average price is $10.75 and its 200-day moving average price is $10.58. The stock has a market capitalization of $359.41 million, a price-to-earnings ratio of -3.32 and a beta of 2.41. Spire Global has a 12-month low of $6.85 and a 12-month high of $21.43.

Hedge Funds Weigh In On Spire Global

A number of hedge funds and other institutional investors have recently modified their holdings of SPIR. Osaic Holdings Inc. bought a new position in shares of Spire Global during the second quarter valued at approximately $25,000. BNP Paribas Financial Markets boosted its stake in shares of Spire Global by 84.6% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock valued at $33,000 after purchasing an additional 1,260 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Spire Global by 71.2% during the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company's stock valued at $49,000 after purchasing an additional 1,699 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Spire Global by 99.1% during the second quarter. AlphaQuest LLC now owns 4,550 shares of the company's stock valued at $54,000 after purchasing an additional 2,265 shares in the last quarter. Finally, Murchinson Ltd. bought a new position in shares of Spire Global during the first quarter valued at approximately $81,000. 19.97% of the stock is currently owned by 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.

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