Spire Global (NYSE:SPIR) Trading Up 12.1% – Here’s What Happened

Spire Global, Inc. (NYSE:SPIR) was up 12.1% on Friday . The company traded as high as $20.46 and last traded at $20.69. Approximately 167,831 shares changed hands during trading, a decline of 64% from the average daily volume of 462,566 shares. The stock had previously closed at $18.45.

Analyst Ratings Changes

A number of brokerages have issued reports on SPIR. Alliance Global Partners raised their target price on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Robert W. Baird lifted their target price on shares of Spire Global from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Canaccord Genuity Group increased their price target on shares of Spire Global from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and lifted their price target for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Spire Global presently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Spire Global Price Performance

The business’s 50 day moving average is $15.45 and its 200-day moving average is $12.28. The company has a market cap of $475.38 million, a PE ratio of -5.62 and a beta of 2.27.

Insider Activity at Spire Global

In other Spire Global news, CFO Leonardo Basola sold 13,278 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total value of $196,116.06. Following the completion of the transaction, the chief financial officer now owns 236,479 shares in the company, valued at approximately $3,492,794.83. This represents a 5.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Theresa Condor sold 17,592 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $14.77, for a total transaction of $259,833.84. Following the completion of the transaction, the chief operating officer now directly owns 377,152 shares of the company’s stock, valued at approximately $5,570,535.04. This trade represents a 4.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,481 shares of company stock valued at $1,380,714 in the last ninety days. Insiders own 17.11% of the company’s stock.

Institutional Investors Weigh In On Spire Global

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Spire Global in the fourth quarter valued at about $37,000. Quest Partners LLC grew its stake in Spire Global by 869,900.0% during the 3rd quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock valued at $87,000 after purchasing an additional 8,699 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Spire Global in the 2nd quarter valued at approximately $106,000. Promus Capital LLC purchased a new position in shares of Spire Global during the 4th quarter valued at approximately $135,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Spire Global in the third quarter worth $136,000. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

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.