Craig Hallum Lowers Spire Global (NYSE:SPIR) to Hold

Craig Hallum lowered shares of Spire Global (NYSE:SPIR) from a buy rating to a hold rating in a report issued on Thursday morning, MarketBeat.com reports. The brokerage currently has $8.00 price target on the stock, down from their prior price target of $13.00.

A number of other analysts also recently commented on the company. Robert W. Baird dropped their price objective on Spire Global from $20.00 to $15.00 and set an outperform rating on the stock in a research note on Thursday, May 16th. Stifel Nicolaus dropped their price target on shares of Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Alliance Global Partners reissued a buy rating on shares of Spire Global in a report on Thursday, June 13th. Finally, Canaccord Genuity Group lowered their price objective on shares of Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $15.00.

Spire Global Price Performance

Shares of NYSE:SPIR opened at $7.07 on Thursday. The stock has a market cap of $171.93 million, a price-to-earnings ratio of -2.03 and a beta of 2.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 2.24. Spire Global has a 12 month low of $3.27 and a 12 month high of $19.40. The stock’s 50 day moving average price is $11.29 and its 200 day moving average price is $11.01.

Hedge Funds Weigh In On Spire Global

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

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.