Rhumbline Advisers Increases Position in Spire Global, Inc. (NYSE:SPIR)

Rhumbline Advisers increased its stake in Spire Global, Inc. (NYSE:SPIR) by 2,221.7% in the second quarter, HoldingsChannel.com reports. The firm owned 27,071 shares of the company’s stock after acquiring an additional 25,905 shares during the quarter. Rhumbline Advisers’ holdings in Spire Global were worth $293,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in shares of Spire Global in the 1st quarter valued at about $27,000. nVerses Capital LLC purchased a new position in Spire Global during the 2nd quarter valued at about $37,000. K.J. Harrison & Partners Inc purchased a new position in Spire Global during the 1st quarter valued at about $176,000. Bank of New York Mellon Corp purchased a new position in Spire Global during the 2nd quarter valued at about $722,000. Finally, Russell Investments Group Ltd. increased its holdings in Spire Global by 225.5% during the 1st quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company’s stock valued at $853,000 after acquiring an additional 49,258 shares in the last quarter. Hedge funds and other institutional investors own 19.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and set a $12.00 target price (down from $20.00) on shares of Spire Global in a report on Tuesday, September 10th. Alliance Global Partners reaffirmed a “buy” rating on shares of Spire Global in a research note on Thursday, June 13th. Baird R W cut shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Raymond James reaffirmed a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $9.00 price target (down from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $13.67.

Spire Global Trading Up 0.4 %

SPIR opened at $9.80 on Friday. The firm has a market capitalization of $238.34 million, a P/E ratio of -2.82 and a beta of 1.96. The firm’s 50 day moving average is $10.00 and its 200-day moving average is $10.59. Spire Global, Inc. has a 52-week low of $3.27 and a 52-week high of $19.40. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.35.

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.