Spire Global, Inc. (NYSE:SPIR) Sees Significant Decline in Short Interest

Spire Global, Inc. (NYSE:SPIR - Get Free Report) saw a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,300,000 shares, a decline of 21.0% from the October 31st total of 2,910,000 shares. Approximately 12.5% of the company's shares are short sold. Based on an average trading volume of 292,700 shares, the days-to-cover ratio is currently 7.9 days.

Spire Global Stock Up 1.1 %

Spire Global stock traded up $0.17 during midday trading on Friday, reaching $16.34. The stock had a trading volume of 108,287 shares, compared to its average volume of 414,635. Spire Global has a 1-year low of $4.71 and a 1-year high of $19.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24. The firm's fifty day simple moving average is $11.13 and its 200-day simple moving average is $10.54. The stock has a market capitalization of $397.39 million, a P/E ratio of -4.65 and a beta of 1.96.

Insider Transactions at Spire Global

In other news, CEO Peter Platzer sold 50,238 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total value of $742,015.26. Following the transaction, the chief executive officer now directly owns 1,891,703 shares in the company, valued at $27,940,453.31. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Leonardo Basola sold 13,278 shares of Spire Global stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total value of $196,116.06. Following the sale, the chief financial officer now directly owns 236,479 shares of the company's stock, valued at approximately $3,492,794.83. This trade represents a 5.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,481 shares of company stock worth $1,380,714 over the last 90 days. 17.11% of the stock is owned by insiders.

Institutional Trading of Spire Global

A number of hedge funds and other institutional investors have recently made changes to their positions in SPIR. Sanctuary Advisors LLC grew its position in Spire Global by 15.9% in the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company's stock valued at $124,000 after purchasing an additional 1,700 shares in the last quarter. Barclays PLC grew its holdings in shares of Spire Global by 321.5% in the 3rd quarter. Barclays PLC now owns 31,875 shares of the company's stock valued at $318,000 after acquiring an additional 24,312 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Spire Global by 9.0% in the third quarter. Geode Capital Management LLC now owns 506,093 shares of the company's stock valued at $5,057,000 after acquiring an additional 41,612 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Spire Global in the third quarter valued at about $392,000. Finally, Jane Street Group LLC boosted its position in Spire Global by 96.4% during the third quarter. Jane Street Group LLC now owns 55,440 shares of the company's stock valued at $554,000 after purchasing an additional 27,219 shares during the last quarter. 19.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Alliance Global Partners lifted their price objective on shares of Spire Global from $17.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Craig Hallum upgraded shares of Spire Global from a "hold" rating to a "buy" rating and upped their price objective for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Raymond James reiterated a "market perform" rating on shares of Spire Global in a report on Wednesday, August 28th. Baird R W downgraded Spire Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 15th. Finally, Robert W. Baird lifted their price objective on Spire Global from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Spire Global presently has an average rating of "Moderate Buy" and an average target price of $19.60.

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.