Spire Global (NYSE:SPIR) Stock Rating Upgraded by Craig Hallum

Spire Global (NYSE:SPIR) was upgraded by equities researchers at Craig Hallum from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a $20.00 target price on the stock, up from their previous target price of $8.00. Craig Hallum’s price target would indicate a potential upside of 48.37% from the company’s previous close.

SPIR has been the subject of a number of other research reports. Baird R W cut shares of Spire Global from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 15th. Raymond James restated a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Robert W. Baird reiterated a “neutral” rating and issued a $9.00 price objective (down from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $12.00 target price (down from $20.00) on shares of Spire Global in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.60.

Spire Global Stock Performance

NYSE:SPIR opened at $13.48 on Thursday. The company has a 50 day moving average price of $9.91 and a 200 day moving average price of $10.23. Spire Global has a fifty-two week low of $4.56 and a fifty-two week high of $19.40. The stock has a market capitalization of $327.81 million, a P/E ratio of -3.87 and a beta of 1.96. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24.

Institutional Investors Weigh In On Spire Global

Several institutional investors have recently added to or reduced their stakes in SPIR. NewGen Asset Management Ltd lifted its position in Spire Global by 406.3% in the second quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock valued at $4,390,000 after acquiring an additional 325,000 shares during the last quarter. Ancora Advisors LLC lifted its holdings in shares of Spire Global by 429.2% in the 1st 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 last quarter. State Street Corp boosted its position in shares of Spire Global by 53.1% in the 3rd quarter. State Street Corp now owns 428,854 shares of the company’s stock valued at $4,284,000 after purchasing an additional 148,803 shares during the period. Vanguard Group Inc. boosted its position in shares of Spire Global by 23.1% in the 1st 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 during the period. Finally, Stifel Financial Corp grew its stake in Spire Global by 45.7% during the 3rd quarter. Stifel Financial Corp now owns 242,660 shares of the company’s stock worth $2,424,000 after buying an additional 76,119 shares during the last quarter. Hedge funds and other institutional investors 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.