Craig Hallum Upgrades Spire Global (NYSE:SPIR) to “Buy”

Spire Global (NYSE:SPIR) was upgraded by equities research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Thursday,Benzinga reports. The firm presently has a $20.00 price target on the stock, up from their previous price target of $8.00. Craig Hallum’s price objective indicates a potential upside of 48.70% from the company’s current price.

Several other analysts have also commented on SPIR. Baird R W lowered Spire Global from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 15th. Raymond James reiterated a “market perform” rating on shares of Spire Global in a research report on Wednesday, August 28th. Canaccord Genuity Group restated a “buy” rating and issued a $12.00 price target (down from $20.00) on shares of Spire Global in a research report on Tuesday, September 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $9.00 price objective (down from $15.00) on shares of Spire Global in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Spire Global currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Spire Global Stock Up 14.1 %

NYSE SPIR opened at $13.45 on Thursday. Spire Global has a 1-year low of $4.56 and a 1-year high of $19.40. The company has a market capitalization of $327.10 million, a price-to-earnings ratio of -3.86 and a beta of 1.96. The stock’s 50 day moving average is $9.70 and its two-hundred day moving average is $10.19. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35.

Institutional Trading of Spire Global

Hedge funds have recently modified their holdings of the stock. Pathway Financial Advisers LLC bought a new position in Spire Global in the 1st quarter worth approximately $27,000. nVerses Capital LLC acquired a new stake in shares of Spire Global in the 2nd quarter valued at $37,000. Quest Partners LLC raised its position in shares of Spire Global by 869,900.0% during the third quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock worth $87,000 after acquiring an additional 8,699 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Spire Global during the second quarter valued at $106,000. Finally, MetLife Investment Management LLC bought a new position in Spire Global in the third quarter valued at about $136,000. 19.97% of the stock is owned by institutional investors.

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.