Spire Global (NYSE:SPIR) Raised to Buy at Craig Hallum

Spire Global (NYSE:SPIR) was upgraded by Craig Hallum from a “hold” rating to a “buy” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $20.00 target price on the stock, up from their prior target price of $8.00. Craig Hallum’s target price points to a potential upside of 48.37% from the company’s current price.

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

Spire Global Stock Performance

NYSE SPIR opened at $13.48 on Thursday. The firm has a market cap of $327.81 million, a P/E 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 business’s 50-day moving average price is $9.91 and its 200 day moving average price is $10.23. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.35.

Institutional Investors Weigh In On Spire Global

Several institutional investors have recently made changes to their positions in SPIR. Barclays PLC lifted its stake in shares of Spire Global by 321.5% in the third quarter. Barclays PLC now owns 31,875 shares of the company’s stock valued at $318,000 after purchasing an additional 24,312 shares during the period. XTX Topco Ltd purchased a new position in Spire Global in the third quarter valued at about $392,000. Jane Street Group LLC lifted its position in shares of Spire Global by 96.4% during the 3rd quarter. Jane Street Group LLC now owns 55,440 shares of the company’s stock valued at $554,000 after acquiring an additional 27,219 shares during the period. State Street Corp boosted its stake in shares of Spire Global by 53.1% during the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock worth $4,284,000 after acquiring an additional 148,803 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Spire Global by 45.7% in the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after acquiring an additional 76,119 shares during the period. 19.97% of the stock is currently owned by hedge funds and other 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.