Spire Global (NYSE:SPIR) Stock Price Up 12.1% – Still a Buy?

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

Analyst Upgrades and Downgrades

SPIR has been the topic of several recent research reports. Alliance Global Partners lifted their price objective on shares of 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 price target on shares of Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and upped their price objective for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group increased their target price on Spire Global from $12.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Spire Global Price Performance

The stock has a market cap of $475.38 million, a P/E ratio of -5.62 and a beta of 2.27. The stock’s 50 day simple moving average is $15.45 and its two-hundred day simple moving average is $12.28.

Insiders Place Their Bets

In related news, CFO Leonardo Basola sold 13,278 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total value of $196,116.06. Following the sale, the chief financial officer now owns 236,479 shares of the company’s stock, valued at $3,492,794.83. The trade was a 5.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Theresa Condor sold 17,592 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 owns 377,152 shares in the company, valued at $5,570,535.04. This trade represents a 4.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,481 shares of company stock valued at $1,380,714 in the last quarter. 17.11% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spire Global

A number of institutional investors have recently modified their holdings of SPIR. Geode Capital Management LLC raised its stake in Spire Global by 9.0% in the third quarter. Geode Capital Management LLC now owns 506,093 shares of the company’s stock valued at $5,057,000 after purchasing an additional 41,612 shares in the last quarter. State Street Corp increased its position in shares of Spire Global by 53.1% during the third quarter. State Street Corp now owns 428,854 shares of the company’s stock valued at $4,284,000 after acquiring an additional 148,803 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Spire Global by 45.7% in the third 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. Raymond James Financial Inc. purchased a new stake in Spire Global during the fourth quarter valued at approximately $1,902,000. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Spire Global by 62.3% in the fourth quarter. Harbor Capital Advisors Inc. now owns 102,090 shares of the company’s stock worth $1,436,000 after purchasing an additional 39,175 shares during the period. 19.97% of the stock is owned by institutional investors and hedge funds.

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.