Robert W. Baird Forecasts Strong Price Appreciation for Spire Global (NYSE:SPIR) Stock

Spire Global (NYSE:SPIR) had its price objective lifted by research analysts at Robert W. Baird from $6.00 to $11.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential downside of 11.18% from the company’s current price.

A number of other equities analysts have also recently commented on SPIR. Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and raised their target price for the company from $8.00 to $20.00 in a report on Thursday, November 14th. Canaccord Genuity Group increased their target price on Spire Global from $18.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Alliance Global Partners raised their price objective on shares of Spire Global from $17.00 to $24.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Spire Global Stock Performance

Shares of SPIR stock opened at $12.39 on Wednesday. The firm has a market cap of $301.20 million, a P/E ratio of -3.56 and a beta of 2.27. The firm’s 50 day moving average price is $15.41 and its 200-day moving average price is $12.32. Spire Global has a one year low of $6.26 and a one year high of $21.43.

Insider Buying and Selling

In related news, COO Theresa Condor sold 17,592 shares of Spire Global 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 transaction, the chief operating officer now directly owns 377,152 shares in the company, valued at $5,570,535.04. This trade represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Peter Platzer sold 50,238 shares of the business’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 $742,015.26. Following the completion of the transaction, the chief executive officer now directly owns 1,891,703 shares in the company, valued at $27,940,453.31. This represents a 2.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,481 shares of company stock valued at $1,380,714 over the last quarter. 17.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spire Global

Hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new position in Spire Global during the 3rd quarter worth approximately $392,000. Geode Capital Management LLC boosted its stake in shares of Spire Global by 9.0% in the third quarter. Geode Capital Management LLC now owns 506,093 shares of the company’s stock valued at $5,057,000 after buying an additional 41,612 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Spire Global during the third quarter worth $629,000. Nkcfo LLC purchased a new position in Spire Global in the fourth quarter worth $774,000. Finally, Stifel Financial Corp lifted its holdings in Spire Global by 45.7% in the third quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock valued at $2,424,000 after acquiring an additional 76,119 shares during the period. Institutional investors and hedge funds 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.