Spire Global, Inc. (NYSE:SPIR) Short Interest Update

Spire Global, Inc. (NYSE:SPIR - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,510,000 shares, an increase of 30.7% from the January 31st total of 1,920,000 shares. Based on an average daily volume of 533,800 shares, the short-interest ratio is currently 4.7 days. Currently, 13.5% of the company's shares are short sold.

Insider Activity

In other Spire Global news, Chairman Peter Platzer sold 51,346 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total transaction of $578,669.42. Following the sale, the chairman now owns 1,840,357 shares in the company, valued at $20,740,823.39. This represents a 2.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Theresa Condor sold 17,979 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $202,623.33. Following the completion of the sale, the chief executive officer now directly owns 359,173 shares of the company's stock, valued at approximately $4,047,879.71. This trade represents a 4.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 240,457 shares of company stock valued at $2,580,366 in the last quarter. Insiders own 17.11% of the company's stock.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. acquired a new stake in Spire Global during the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets acquired a new stake in Spire Global during the fourth quarter valued at approximately $42,000. Quest Partners LLC raised its stake 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 buying an additional 8,699 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Spire Global by 15.9% during the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company's stock valued at $124,000 after buying an additional 1,700 shares in the last quarter. Finally, Promus Capital LLC bought a new position in shares of Spire Global during the fourth quarter valued at approximately $135,000. Institutional investors and hedge funds own 19.97% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SPIR. Canaccord Genuity Group raised their price objective on Spire Global from $11.50 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. Alliance Global Partners raised their price target on Spire Global from $17.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Craig Hallum raised Spire Global from a "hold" rating to a "buy" rating and raised their price target for the stock from $8.00 to $20.00 in a research report on Thursday, November 14th. Finally, Robert W. Baird raised their price target on Spire Global from $11.00 to $13.00 and gave the stock a "neutral" rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $18.40.

Spire Global Price Performance

SPIR stock traded up $0.15 during trading on Friday, reaching $10.50. 682,436 shares of the stock traded hands, compared to its average volume of 713,344. The business's 50 day moving average price is $14.74 and its 200-day moving average price is $12.42. Spire Global has a 52-week low of $6.26 and a 52-week high of $21.43. The firm has a market capitalization of $270.19 million, a PE ratio of -3.02 and a beta of 2.34.

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.