Canaccord Genuity Group Boosts Spire Global (NYSE:SPIR) Price Target to $18.00

Spire Global (NYSE:SPIR) had its price objective boosted by equities researchers at Canaccord Genuity Group from $12.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 33.53% from the company’s previous close.

Several other brokerages also recently commented on SPIR. Raymond James reissued a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and upped their target price for the stock from $8.00 to $20.00 in a report on Thursday. Robert W. Baird lifted their price target on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday. Alliance Global Partners boosted their price target on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Baird R W lowered shares of Spire Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.60.

Spire Global Stock Performance

Shares of Spire Global stock opened at $13.48 on Friday. Spire Global has a 1-year low of $4.56 and a 1-year high of $19.40. The company has a market cap of $327.81 million, a PE ratio of -3.87 and a beta of 1.96. 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 50 day moving average of $10.02 and a 200-day moving average of $10.25.

Institutional Trading of Spire Global

Several institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its stake in shares of Spire Global by 225.5% in the 1st quarter. Russell Investments Group Ltd. now owns 71,102 shares of the company’s stock valued at $853,000 after purchasing an additional 49,258 shares during the period. Vanguard Group Inc. increased its stake in Spire Global by 23.1% in the first 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. Ancora Advisors LLC raised its holdings in shares of Spire Global by 429.2% during the first quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock valued at $3,953,000 after purchasing an additional 267,197 shares during the period. Pathway Financial Advisers LLC bought a new position in shares of Spire Global during the 1st quarter worth about $27,000. Finally, DNB Asset Management AS grew its stake in shares of 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 buying an additional 57,137 shares during the period. 19.97% of the stock is currently owned by institutional investors.

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.