Robert W. Baird Issues Pessimistic Forecast for Spire Global (NYSE:SPIR) Stock Price

Spire Global (NYSE:SPIR) had its price target reduced by Robert W. Baird from $13.00 to $11.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 35.80% from the company’s previous close.

Separately, Canaccord Genuity Group lowered their price target on shares of Spire Global from $15.00 to $14.50 and set a “buy” rating for the company in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Spire Global has an average rating of “Moderate Buy” and an average target price of $17.50.

Spire Global Stock Up 2.0 %

Shares of SPIR stock opened at $8.10 on Tuesday. The firm has a market cap of $208.45 million, a price-to-earnings ratio of -2.33 and a beta of 2.34. Spire Global has a 12 month low of $6.26 and a 12 month high of $21.43. The stock has a 50-day moving average price of $12.50 and a 200 day moving average price of $12.53.

Insider Activity at Spire Global

In related news, Chairman Peter Platzer sold 145,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $10.38, for a total transaction of $1,511,328.00. Following the completion of the transaction, the chairman now owns 1,694,757 shares in the company, valued at approximately $17,591,577.66. The trade was a 7.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the stock in a transaction on Friday, February 21st. The stock was 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. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,021 shares of company stock worth $2,816,590. 17.11% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new stake in shares of Spire Global in the fourth quarter worth about $37,000. BNP Paribas Financial Markets acquired a new position in shares of Spire Global in the 4th quarter valued at approximately $42,000. Promus Capital LLC bought a new stake in Spire Global during the 4th quarter worth approximately $135,000. JPMorgan Chase & Co. raised its holdings in Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company’s stock worth $147,000 after buying an additional 597 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in Spire Global by 50.8% in the fourth quarter. Wells Fargo & Company MN now owns 10,547 shares of the company’s stock valued at $148,000 after buying an additional 3,553 shares in the last quarter. 19.97% of the stock is currently owned by institutional investors.

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.