Spire Global (NYSE:SPIR) Upgraded by Craig Hallum to Buy Rating

Craig Hallum upgraded shares of Spire Global (NYSE:SPIR) from a hold rating to a buy rating in a report released on Thursday morning, Marketbeat reports. The brokerage currently has $20.00 target price on the stock, up from their previous target price of $8.00.

A number of other analysts have also weighed in on the company. Raymond James reissued a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $12.00 price target (down previously from $20.00) on shares of Spire Global in a research note on Tuesday, September 10th. Robert W. Baird reaffirmed a “neutral” rating and issued a $9.00 price target (down previously from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Finally, Baird R W lowered Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.60.

Spire Global Trading Down 0.1 %

Shares of NYSE:SPIR traded down $0.01 during trading on Thursday, reaching $13.33. 227,383 shares of the company traded hands, compared to its average volume of 418,170. The firm has a market capitalization of $324.16 million, a price-to-earnings ratio of -3.87 and a beta of 1.96. Spire Global has a 52-week low of $4.56 and a 52-week high of $19.40. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The business’s fifty day moving average is $9.91 and its 200-day moving average is $10.23.

Hedge Funds Weigh In On Spire Global

Institutional investors have recently added to or reduced their stakes in the company. NewGen Asset Management Ltd increased its holdings 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 acquiring an additional 325,000 shares in the last quarter. Ancora Advisors LLC increased its holdings in Spire Global by 429.2% in the 1st quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock worth $3,953,000 after buying an additional 267,197 shares in the last quarter. State Street Corp increased its holdings in Spire Global by 53.1% in the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after buying an additional 148,803 shares in the last quarter. Vanguard Group Inc. boosted its position in Spire Global by 23.1% in the first 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. Finally, Stifel Financial Corp boosted its position in Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after purchasing an additional 76,119 shares during the last quarter. 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.