Canaccord Genuity Group Forecasts Strong Price Appreciation for Spire Global (NYSE:SPIR) Stock

Spire Global (NYSE:SPIR) had its target price increased by research analysts at Canaccord Genuity Group from $18.00 to $24.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 137.15% from the company’s current price.

Other equities research analysts have also issued research reports about the company. Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and boosted their target price for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Robert W. Baird increased their price objective on Spire Global from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, Alliance Global Partners upped their target price on Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.80.

Spire Global Trading Down 49.0 %

Shares of NYSE SPIR opened at $10.12 on Tuesday. The stock’s 50-day moving average is $15.72 and its 200 day moving average is $12.38. The stock has a market cap of $246.10 million, a price-to-earnings ratio of -2.91 and a beta of 2.27. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43.

Insider Transactions at Spire Global

In other news, CAO Boyd C. Johnson sold 12,373 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total transaction of $182,749.21. Following the transaction, the chief accounting officer now directly owns 311,608 shares of the company’s stock, valued at $4,602,450.16. This represents a 3.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Theresa Condor sold 17,592 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total value of $259,833.84. Following the sale, the chief operating officer now owns 377,152 shares of the company’s stock, valued at approximately $5,570,535.04. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,481 shares of company stock valued at $1,380,714 in the last quarter. 17.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Spire Global during the fourth quarter valued at approximately $37,000. Quest Partners LLC raised its position in Spire Global by 869,900.0% during the third quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock valued at $87,000 after purchasing an additional 8,699 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Spire Global in the 2nd quarter valued at approximately $106,000. Promus Capital LLC purchased a new position in shares of Spire Global in the 4th quarter worth approximately $135,000. Finally, MetLife Investment Management LLC purchased a new stake in Spire Global during the 3rd quarter valued at $136,000. Institutional investors own 19.97% of the company’s stock.

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.