Spire Global (NYSE:SPIR) Stock Rating Reaffirmed by Canaccord Genuity Group

Spire Global (NYSE:SPIR)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $12.00 target price on the stock, down from their previous target price of $20.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 34.98% from the company’s previous close.

Other analysts have also recently issued reports about the company. Alliance Global Partners reiterated a “buy” rating on shares of Spire Global in a research report on Thursday, June 13th. Raymond James reiterated a “market perform” rating on shares of Spire Global in a research report on Wednesday, August 28th. Craig Hallum lowered shares of Spire Global from a “buy” rating to a “hold” rating and lowered their price target for the stock from $13.00 to $8.00 in a research report on Thursday, August 15th. Robert W. Baird reaffirmed a “neutral” rating and set a $9.00 price objective (down previously from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Finally, Stifel Nicolaus decreased their target price on shares of Spire Global from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.67.

Spire Global Price Performance

NYSE:SPIR opened at $8.89 on Tuesday. The stock has a 50 day moving average of $10.53 and a two-hundred day moving average of $10.77. Spire Global has a 12 month low of $3.27 and a 12 month high of $19.40. The firm has a market cap of $216.19 million, a P/E ratio of -2.55 and a beta of 1.97. 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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Spire Global by 23.1% during the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock worth $9,220,000 after purchasing an additional 144,047 shares during the last quarter. CVI Holdings LLC acquired a new stake in shares of Spire Global during the first quarter valued at about $3,131,000. Russell Investments Group Ltd. raised its stake in shares of 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 acquiring an additional 49,258 shares during the period. NewGen Asset Management Ltd lifted its holdings in shares of Spire Global by 406.3% in the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock worth $4,390,000 after acquiring an additional 325,000 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in shares of Spire Global by 117.5% during the 2nd quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock worth $1,145,000 after purchasing an additional 57,137 shares during the period. 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.