Canaccord Genuity Group Boosts Spire Global (NYSE:SPIR) Price Target to $24.00

Spire Global (NYSE:SPIR - Get Free Report) had its price objective raised by analysts at Canaccord Genuity Group from $18.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 104.52% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Alliance Global Partners raised their target price 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. Robert W. Baird raised their target price on shares of Spire Global from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Finally, Craig Hallum raised shares of 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Spire Global presently has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Spire Global Stock Up 2.4 %

Shares of NYSE SPIR traded up $0.28 during mid-day trading on Tuesday, reaching $11.74. 1,137,418 shares of the company were exchanged, compared to its average volume of 512,558. The company's 50-day simple moving average is $15.51 and its 200-day simple moving average is $12.34. The stock has a market capitalization of $285.40 million, a P/E ratio of -3.37 and a beta of 2.27. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43.

Insider Buying and Selling at Spire Global

In related news, CEO Peter Platzer sold 50,238 shares of Spire Global stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total transaction of $742,015.26. Following the sale, the chief executive officer now directly owns 1,891,703 shares of the company's stock, valued at approximately $27,940,453.31. The trade was a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Theresa Condor sold 17,592 shares of Spire Global stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total transaction of $259,833.84. Following the sale, the chief operating officer now owns 377,152 shares in the company, valued at approximately $5,570,535.04. This represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,481 shares of company stock valued at $1,380,714 in the last ninety days. 17.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Spire Global

Several hedge funds have recently added to or reduced their stakes in SPIR. State Street Corp boosted its position in Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company's stock worth $4,284,000 after buying an additional 148,803 shares during the period. Raymond James Financial Inc. acquired a new stake in Spire Global during the 4th quarter worth approximately $1,902,000. Stifel Financial Corp lifted its position 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 worth $2,424,000 after purchasing an additional 76,119 shares during the period. Vanguard Group Inc. lifted its position in shares of Spire Global by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company's stock worth $15,540,000 after purchasing an additional 64,632 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Spire Global in the 3rd quarter worth approximately $629,000. 19.97% of the stock is currently owned by institutional investors and hedge funds.

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.