Spire Global (NYSE:SPIR) Upgraded to Buy at Craig Hallum

Craig Hallum upgraded shares of Spire Global (NYSE:SPIR - Free Report) from a hold rating to a buy rating in a research note released on Thursday morning, Marketbeat Ratings reports. Craig Hallum currently has $20.00 price objective on the stock, up from their previous price objective of $8.00.

Several other brokerages have also recently issued reports on SPIR. Robert W. Baird reissued a "neutral" rating and set a $9.00 target price (down previously from $15.00) on shares of Spire Global in a report on Thursday, August 15th. Baird R W cut shares of Spire Global from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 15th. Canaccord Genuity Group reissued a "buy" rating and set a $12.00 target price (down previously from $20.00) on shares of Spire Global in a report on Tuesday, September 10th. Finally, Raymond James reissued a "market perform" rating on shares of Spire Global in a report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Spire Global Stock Performance

Shares of NYSE SPIR traded up $0.04 during midday trading on Thursday, reaching $13.49. The company had a trading volume of 905,321 shares, compared to its average volume of 417,834. The business's 50-day simple moving average is $9.81 and its 200 day simple moving average is $10.21. The stock has a market cap of $328.08 million, a P/E ratio of -4.16 and a beta of 1.96. Spire Global has a 1 year low of $4.56 and a 1 year high of $19.40. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

Institutional Investors Weigh In On Spire Global

Hedge funds have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Spire Global by 225.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company's stock valued at $853,000 after buying an additional 49,258 shares in the last quarter. Vanguard Group Inc. lifted its stake in Spire Global by 23.1% in the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company's stock valued at $9,220,000 after buying an additional 144,047 shares in the last quarter. Ancora Advisors LLC lifted its stake in Spire Global by 429.2% in the 1st quarter. Ancora Advisors LLC now owns 329,457 shares of the company's stock valued at $3,953,000 after buying an additional 267,197 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Spire Global in the 1st quarter valued at about $27,000. Finally, DNB Asset Management AS lifted its stake in Spire Global by 117.5% in the 2nd quarter. DNB Asset Management AS now owns 105,745 shares of the company's stock valued at $1,145,000 after buying an additional 57,137 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other 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.