Spire Global, Inc. (NYSE:SPIR) Short Interest Down 21.0% in November

Spire Global, Inc. (NYSE:SPIR) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 2,300,000 shares, a decrease of 21.0% from the October 31st total of 2,910,000 shares. Based on an average daily trading volume, of 292,700 shares, the short-interest ratio is currently 7.9 days. Approximately 12.5% of the company’s stock are sold short.

Insider Activity

In related news, 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 completion of the sale, the chief operating officer now owns 377,152 shares in the company, valued at $5,570,535.04. This represents a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Boyd C. Johnson sold 12,373 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 transaction of $182,749.21. Following the completion of the sale, the chief accounting officer now owns 311,608 shares of the company’s stock, valued at approximately $4,602,450.16. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,481 shares of company stock worth $1,380,714. Corporate insiders own 17.11% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Spire Global by 23.1% in the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after purchasing an additional 144,047 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Spire Global in the 3rd quarter valued at about $629,000. NewGen Asset Management Ltd grew its stake in Spire Global by 406.3% in the 2nd 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 during the last quarter. DNB Asset Management AS grew its stake in Spire Global by 117.5% in the 2nd quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock valued at $1,145,000 after acquiring an additional 57,137 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Spire Global in the 2nd quarter valued at about $722,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.

Analysts Set New Price Targets

SPIR has been the subject of several research reports. Baird R W downgraded shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Raymond James restated a “market perform” rating on shares of Spire Global in a research report on Wednesday, August 28th. Craig Hallum upgraded shares of Spire Global from a “hold” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $20.00 in a research report on Thursday, November 14th. Alliance Global Partners upped their price objective 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. Finally, Robert W. Baird upped their price objective on shares of Spire Global from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Spire Global has an average rating of “Moderate Buy” and an average price target of $19.60.

Spire Global Price Performance

Shares of SPIR traded up $0.17 during trading hours on Friday, reaching $16.34. The company had a trading volume of 108,848 shares, compared to its average volume of 414,637. The firm has a 50 day simple moving average of $11.25 and a 200-day simple moving average of $10.56. 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 company has a market capitalization of $397.39 million, a price-to-earnings ratio of -4.70 and a beta of 1.96. Spire Global has a 12-month low of $4.71 and a 12-month high of $19.40.

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.