Brokerages Set Spire Global, Inc. (NYSE:SPIR) Price Target at $16.83

Spire Global, Inc. (NYSE:SPIR) has been given an average recommendation of “Buy” by the six research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $16.83.

Several research analysts have recently issued reports on SPIR shares. Canaccord Genuity Group dropped their target price 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. Craig Hallum started coverage on shares of Spire Global in a research report on Wednesday, June 5th. They set a “buy” rating and a $13.00 price objective on the stock. Alliance Global Partners restated a “buy” rating on shares of Spire Global in a research report on Thursday, June 13th. Robert W. Baird lowered their price objective on shares of Spire Global from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, May 16th. Finally, Stifel Nicolaus 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 report on Thursday, May 16th.

Spire Global Trading Up 3.2 %

Shares of NYSE SPIR opened at $10.52 on Friday. The firm’s 50 day moving average price is $10.09 and its 200-day moving average price is $9.94. The company has a market cap of $255.85 million, a PE ratio of -3.02 and a beta of 2.01. Spire Global has a 52-week low of $3.27 and a 52-week high of $19.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24.

Spire Global (NYSE:SPIR) last issued its earnings results on Wednesday, May 15th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.21). The firm had revenue of $25.69 million during the quarter, compared to the consensus estimate of $28.08 million. Spire Global had a negative return on equity of 66.19% and a negative net margin of 66.72%. On average, equities research analysts expect that Spire Global will post -1.69 EPS for the current fiscal year.

Institutional Trading of Spire Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in Spire Global during the first quarter valued at approximately $27,000. DNB Asset Management AS increased its stake in shares of Spire Global by 5.4% in the fourth quarter. DNB Asset Management AS now owns 90,553 shares of the company’s stock worth $707,000 after purchasing an additional 4,680 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in shares of Spire Global in the first quarter worth $176,000. Jump Financial LLC purchased a new stake in shares of Spire Global in the fourth quarter worth $167,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Spire Global in the fourth quarter worth $171,000. 19.97% of the stock is owned by hedge funds and other 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.