Spire Global (NYSE:SPIR) Given New $13.00 Price Target at Robert W. Baird

Spire Global (NYSE:SPIR) had its price target upped by investment analysts at Robert W. Baird from $11.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 22.12% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and increased their price target for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Canaccord Genuity Group raised their target price on shares of Spire Global from $18.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Alliance Global Partners lifted their target price on shares of Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.20.

Spire Global Price Performance

Shares of SPIR opened at $10.65 on Wednesday. The firm’s 50 day moving average is $14.98 and its 200-day moving average is $12.42. Spire Global has a 12-month low of $6.26 and a 12-month high of $21.43. The stock has a market capitalization of $258.87 million, a P/E ratio of -3.06 and a beta of 2.27.

Spire Global (NYSE:SPIR) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.54). The business had revenue of $28.57 million for the quarter, compared to analysts’ expectations of $30.17 million. As a group, equities research analysts forecast that Spire Global will post -1.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spire Global news, CAO Boyd C. Johnson sold 11,304 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $127,396.08. Following the completion of the sale, the chief accounting officer now owns 300,304 shares in the company, valued at $3,384,426.08. This represents a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Peter Platzer sold 51,346 shares of Spire Global stock in a transaction on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $578,669.42. Following the sale, the chairman now directly owns 1,840,357 shares of the company’s stock, valued at $20,740,823.39. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 94,857 shares of company stock worth $1,069,038. 17.11% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPIR. Vanguard Group Inc. grew its stake in shares of Spire Global by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 1,104,482 shares of the company’s stock valued at $15,540,000 after buying an additional 64,632 shares in the last quarter. Geode Capital Management LLC grew its position in Spire Global by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 509,644 shares of the company’s stock worth $7,172,000 after acquiring an additional 3,551 shares in the last quarter. State Street Corp increased its stake 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 worth $4,284,000 after purchasing an additional 148,803 shares during the last quarter. Stifel Financial Corp raised its holdings 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 valued at $2,424,000 after purchasing an additional 76,119 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Spire Global by 6.4% in the 4th quarter. Northern Trust Corp now owns 188,393 shares of the company’s stock valued at $2,651,000 after purchasing an additional 11,373 shares during the last quarter. 19.97% of the stock is owned by institutional investors and hedge funds.

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.