Brokerages Set Spire Global, Inc. (NYSE:SPIR) PT at $15.00

Spire Global, Inc. (NYSE:SPIR) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $15.00.

Several research firms have recently issued reports on SPIR. Canaccord Genuity Group decreased their price target on Spire Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Alliance Global Partners reaffirmed a “buy” rating on shares of Spire Global in a research report on Thursday, June 13th. Craig Hallum downgraded Spire Global from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.00 to $8.00 in a report on Thursday, August 15th. Robert W. Baird restated a “neutral” rating and issued a $9.00 price objective (down from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Finally, Baird R W lowered shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th.

Spire Global Trading Up 8.8 %

Spire Global stock opened at $8.06 on Monday. Spire Global has a one year low of $3.27 and a one year high of $19.40. The company’s fifty day moving average price is $11.06 and its two-hundred day moving average price is $10.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $196.00 million, a price-to-earnings ratio of -2.32 and a beta of 2.01.

Hedge Funds Weigh In On Spire Global

Several large investors have recently bought and sold shares of the stock. Herald Investment Management Ltd grew its position in Spire Global by 10.0% during the second quarter. Herald Investment Management Ltd now owns 165,000 shares of the company’s stock worth $1,784,000 after buying an additional 15,000 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Spire Global by 2,221.7% in the 2nd quarter. Rhumbline Advisers now owns 27,071 shares of the company’s stock worth $293,000 after acquiring an additional 25,905 shares during the period. nVerses Capital LLC acquired a new stake in shares of Spire Global during the 2nd quarter worth approximately $37,000. NewGen Asset Management Ltd increased its position in shares of Spire Global by 406.3% during the second quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock valued at $4,390,000 after purchasing an additional 325,000 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of Spire Global in the second quarter valued at $722,000. 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.