Stifel Nicolaus Has Lowered Expectations for Spire Global (NYSE:SPIR) Stock Price

Spire Global (NYSE:SPIR) had its target price reduced by investment analysts at Stifel Nicolaus from $20.00 to $18.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential upside of 121.95% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Robert W. Baird decreased their price objective on shares of Spire Global from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday. Canaccord Genuity Group lowered their price target on Spire Global from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.50.

Spire Global Trading Down 1.0 %

NYSE:SPIR opened at $8.11 on Tuesday. Spire Global has a 1 year low of $6.26 and a 1 year high of $21.43. The stock has a 50-day moving average price of $12.92 and a two-hundred day moving average price of $12.57. The stock has a market cap of $208.71 million, a price-to-earnings ratio of -2.33 and a beta of 2.34.

Insider Activity at Spire Global

In related news, Chairman Peter Platzer sold 27,564 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $8.57, for a total value of $236,223.48. Following the sale, the chairman now directly owns 1,615,902 shares of the company’s stock, valued at $13,848,280.14. This trade represents a 1.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $127,396.08. Following the completion of the sale, the chief accounting officer now owns 300,304 shares in the company, valued at approximately $3,384,426.08. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 268,021 shares of company stock valued at $2,816,590 over the last three months. 17.11% of the stock is owned by insiders.

Institutional Trading of Spire Global

A number of hedge funds have recently added to or reduced their stakes in SPIR. SBI Securities Co. Ltd. acquired a new position in Spire Global in the 4th quarter valued at approximately $37,000. BNP Paribas Financial Markets acquired a new stake in Spire Global during the fourth quarter worth approximately $42,000. Sanctuary Advisors LLC increased its holdings in Spire Global by 15.9% in the third quarter. Sanctuary Advisors LLC now owns 12,424 shares of the company’s stock worth $124,000 after purchasing an additional 1,700 shares in the last quarter. Promus Capital LLC acquired a new position in Spire Global in the fourth quarter valued at approximately $135,000. Finally, MetLife Investment Management LLC bought a new position in shares of Spire Global during the 3rd quarter worth approximately $136,000. Institutional investors and hedge funds own 19.97% of the company’s stock.

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.