Spire Global, Inc. (NYSE:SPIR) Given Average Recommendation of “Hold” by Brokerages

Shares of Spire Global, Inc. (NYSE:SPIR) have earned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $13.67.

Several brokerages have recently commented on SPIR. 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. Raymond James reiterated a “market perform” rating on shares of Spire Global in a report on Wednesday, August 28th. Baird R W cut Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Craig Hallum cut Spire Global from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.00 to $8.00 in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $12.00 target price (down previously from $20.00) on shares of Spire Global in a research note on Tuesday, September 10th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SPIR. NewGen Asset Management Ltd lifted its position in shares of Spire Global by 406.3% during the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock worth $4,390,000 after purchasing an additional 325,000 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Spire Global by 429.2% during the 1st quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock worth $3,953,000 after acquiring an additional 267,197 shares in the last quarter. CVI Holdings LLC purchased a new stake in Spire Global during the first quarter worth approximately $3,131,000. Vanguard Group Inc. lifted its stake in Spire Global by 23.1% during 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, ARS Investment Partners LLC acquired a new position in Spire Global in the second quarter valued at approximately $806,000. Hedge funds and other institutional investors own 19.97% of the company’s stock.

Spire Global Stock Up 8.1 %

Shares of NYSE SPIR opened at $10.70 on Friday. The company has a market capitalization of $260.22 million, a P/E ratio of -3.07 and a beta of 1.97. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 2.24. The company has a 50 day simple moving average of $9.32 and a 200-day simple moving average of $10.13. Spire Global has a 1 year low of $3.61 and a 1 year high of $19.40.

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.