Spire Global, Inc. (NYSE:SPIR) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Spire Global, Inc. (NYSE:SPIR) have received an average recommendation of "Moderate Buy" from seven analysts covering the company, according to Marketbeat Ratings. Among these analysts, three have given the stock a "hold" rating while four have issued a "buy" recommendation. The average price target for the stock over the next year, based on recent updates from brokerage firms, is $18.40.

Several analysts have recently provided updates regarding Spire Global. For instance, Robert W. Baird raised their target price for Spire Global from $11.00 to $13.00, maintaining a "neutral" rating in a report published on March 5th. Additionally, Alliance Global Partners increased their price target from $17.00 to $24.00, giving the stock a "buy" rating in a release dated November 14th. Furthermore, Craig Hallum upgraded Spire Global from a "hold" rating to a "buy" rating, raising their price objective from $8.00 to $20.00 on the same date. Canaccord Genuity Group also raised its target price from $11.50 to $15.00, assigning a "buy" rating in a research note issued on March 5th.

Insider Activity at Spire Global

In recent insider transactions at Spire Global, Chief Accounting Officer Boyd C. Johnson sold 11,304 shares of the company's stock on February 21st at an average price of $11.27, totaling $127,396.08. Following this sale, he now owns 300,304 shares worth about $3,384,426.08, marking a 3.63% decrease in his ownership. The transaction was officially disclosed in a filing with the Securities and Exchange Commission. Similarly, CEO Theresa Condor sold 17,979 shares on the same day, also at an average price of $11.27, amounting to $202,623.33. After this transaction, she holds 359,173 shares valued at approximately $4,047,879.71, representing a 4.77% decrease in her stake. Over the last three months, company insiders sold a total of 240,457 shares worth $2,580,366, with insiders currently owning 17.11% of Spire Global's shares.

Institutional Trading of Spire Global

Several institutional investors have recently changed their positions in Spire Global. State Street Corp increased its holdings by 53.1% during the third quarter, now owning 428,854 shares valued at $4,284,000 after purchasing an additional 148,803 shares. Additionally, Raymond James Financial Inc. acquired a new position in Spire Global valued at approximately $1,902,000 during the fourth quarter. Granahan Investment Management LLC also made a new purchase in the same quarter worth about $1,774,000. Stifel Financial Corp boosted its stake in Spire Global by 45.7% in the third quarter and now owns 242,660 shares worth $2,424,000 after buying an additional 76,119 shares. Finally, Vanguard Group Inc. raised its position by 6.2% in the fourth quarter, bringing its total to 1,104,482 shares valued at $15,540,000. Currently, 19.97% of Spire Global's stock is held by institutional investors and hedge funds.

Spire Global Stock Performance

As of Friday, shares of Spire Global opened at $9.82, with a 50-day moving average at $14.57 and a 200-day moving average at $12.52. The company's market capitalization stands at $252.72 million, with a PE ratio of -2.82 and a beta of 2.34. Within the past year, the stock has reached a low of $6.26 and a high of $21.43.

About Spire Global

Spire Global, Inc offers subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company provides satellite-based aircraft tracking data, enabling applications that enhance decision-making and improve cost efficiencies. It also offers data, insights, and predictive analytics for accurate ship monitoring, real-time vessel updates, and port operations, among other services. Furthermore, Spire Global provides space-based data and AI-powered insights for accurate weather forecasting.

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