Spire Global (NYSE:SPIR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Spire Global (NYSE:SPIR - Free Report) had its target price hoisted by Canaccord Genuity Group from $12.00 to $18.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on SPIR. Robert W. Baird boosted their price target on shares of Spire Global from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday. Baird R W downgraded Spire Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 15th. Raymond James reaffirmed a "market perform" rating on shares of Spire Global in a research report on Wednesday, August 28th. Alliance Global Partners increased their target price on Spire Global from $17.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday. Finally, Craig Hallum upgraded Spire Global from a "hold" rating to a "buy" rating and boosted their price target for the company from $8.00 to $20.00 in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.60.

Spire Global Trading Up 1.0 %

Shares of SPIR traded up $0.14 on Friday, reaching $13.48. 325,927 shares of the company's stock were exchanged, compared to its average volume of 418,640. Spire Global has a 12 month low of $4.56 and a 12 month high of $19.40. The stock has a market capitalization of $327.81 million, a P/E ratio of -3.87 and a beta of 1.96. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The business has a 50 day moving average price of $9.91 and a two-hundred day moving average price of $10.23.

Institutional Investors Weigh In On Spire Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new position in shares of Spire Global in the 1st quarter valued at approximately $27,000. nVerses Capital LLC bought a new position in Spire Global in the second quarter valued at approximately $37,000. Quest Partners LLC raised its position in Spire Global by 869,900.0% during the third quarter. Quest Partners LLC now owns 8,700 shares of the company's stock valued at $87,000 after purchasing an additional 8,699 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Spire Global during the second quarter worth $106,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Spire Global in the 3rd quarter valued at $136,000. 19.97% of the stock is currently owned by institutional investors and hedge funds.

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.