Robert W. Baird Lowers Spire Global (NYSE:SPIR) Price Target to $11.00

Spire Global (NYSE:SPIR - Free Report) had its price objective cut by Robert W. Baird from $13.00 to $11.00 in a research note published on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Separately, Canaccord Genuity Group reduced their price objective on shares of Spire Global from $15.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.50.

Spire Global Stock Down 0.9 %

Shares of NYSE:SPIR traded down $0.07 during mid-day trading on Tuesday, reaching $7.54. 740,294 shares of the stock were exchanged, compared to its average volume of 454,994. The company has a market cap of $233.62 million, a P/E ratio of -2.17 and a beta of 2.42. The stock's 50 day simple moving average is $12.02 and its 200-day simple moving average is $12.48. Spire Global has a one year low of $6.26 and a one year high of $21.43.

Insider Activity

In related news, CEO Theresa Condor sold 17,979 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $11.27, for a total transaction of $202,623.33. Following the sale, the chief executive officer now owns 359,173 shares of the company's stock, valued at $4,047,879.71. This represents a 4.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Peter Platzer sold 145,600 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $10.38, for a total value of $1,511,328.00. Following the completion of the transaction, the chairman now owns 1,694,757 shares in the company, valued at $17,591,577.66. The trade was a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 268,021 shares of company stock valued at $2,816,590 over the last three months. Insiders own 17.11% of the company's stock.

Hedge Funds Weigh In On Spire Global

Several hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in Spire Global by 53.1% in the third quarter. State Street Corp now owns 428,854 shares of the company's stock valued at $4,284,000 after buying an additional 148,803 shares in the last quarter. Raymond James Financial Inc. bought a new position in Spire Global during the 4th quarter worth $1,902,000. Granahan Investment Management LLC acquired a new position in shares of Spire Global in the fourth quarter worth approximately $1,774,000. Stifel Financial Corp boosted its stake in shares of Spire Global by 45.7% in the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company's stock valued at $2,424,000 after purchasing an additional 76,119 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Spire Global by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company's stock worth $15,540,000 after acquiring an additional 64,632 shares during the period. 19.97% of the stock is 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.