Traders Purchase Large Volume of Call Options on Spire Global (NYSE:SPIR)

Spire Global, Inc. (NYSE:SPIR - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 2,622 call options on the stock. This represents an increase of approximately 92% compared to the average volume of 1,369 call options.

Insider Buying and Selling

In other news, CAO Boyd C. Johnson sold 11,304 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 transaction of $127,396.08. Following the completion of the transaction, the chief accounting officer now owns 300,304 shares in the company, valued at approximately $3,384,426.08. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Peter Platzer sold 145,600 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $10.38, for a total transaction of $1,511,328.00. Following the completion of the sale, the chairman now directly owns 1,694,757 shares in the company, valued at approximately $17,591,577.66. This trade represents a 7.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 295,314 shares of company stock worth $3,069,869 over the last quarter. 17.11% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SPIR. Vanguard Group Inc. boosted its position in shares of Spire Global by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company's stock valued at $15,540,000 after purchasing an additional 64,632 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Spire Global by 538.7% in the first quarter. Harbor Capital Advisors Inc. now owns 652,062 shares of the company's stock worth $5,275,000 after buying an additional 549,972 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Spire Global by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 509,644 shares of the company's stock valued at $7,172,000 after buying an additional 3,551 shares in the last quarter. State Street Corp lifted its position in shares of Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company's stock valued at $4,284,000 after acquiring an additional 148,803 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Spire Global by 45.7% during the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company's stock worth $2,424,000 after acquiring an additional 76,119 shares in the last quarter. 19.97% of the stock is owned by institutional investors and hedge funds.

Spire Global Stock Performance

Shares of SPIR stock traded down $0.32 during mid-day trading on Friday, hitting $8.56. 559,245 shares of the stock traded hands, compared to its average volume of 472,430. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43. The company's 50-day simple moving average is $9.69 and its 200-day simple moving average is $12.37. The firm has a market cap of $265.05 million, a price-to-earnings ratio of -2.46 and a beta of 2.42.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPIR shares. Robert W. Baird cut their price target on Spire Global from $13.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus reduced their price target on Spire Global from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Finally, Canaccord Genuity Group raised their price target on Spire Global from $14.50 to $15.50 and gave the company a "buy" rating in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.70.

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.