Spire Global, Inc. (NYSE:SPIR) Short Interest Down 21.0% in November

Spire Global, Inc. (NYSE:SPIR) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 2,300,000 shares, a drop of 21.0% from the October 31st total of 2,910,000 shares. Based on an average daily trading volume, of 292,700 shares, the short-interest ratio is presently 7.9 days. Currently, 12.5% of the company’s stock are short sold.

Spire Global Price Performance

NYSE:SPIR traded up $0.17 during mid-day trading on Friday, hitting $16.34. The company’s stock had a trading volume of 108,848 shares, compared to its average volume of 423,302. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average of $11.25 and a 200-day moving average of $10.56. The company has a market capitalization of $397.39 million, a price-to-earnings ratio of -4.70 and a beta of 1.96. Spire Global has a fifty-two week low of $4.71 and a fifty-two week high of $19.40.

Wall Street Analyst Weigh In

SPIR has been the subject of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Spire Global from $12.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Robert W. Baird upped their price objective 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. Baird R W downgraded Spire Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Raymond James reaffirmed a “market perform” rating on shares of Spire Global in a report on Wednesday, August 28th. Finally, Craig Hallum raised Spire Global from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $20.00 in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.60.

Insider Buying and Selling at Spire Global

In related news, COO Theresa Condor sold 17,592 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $14.77, for a total transaction of $259,833.84. Following the completion of the sale, the chief operating officer now directly owns 377,152 shares of the company’s stock, valued at approximately $5,570,535.04. This represents a 4.46 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Boyd C. Johnson sold 12,373 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $14.77, for a total transaction of $182,749.21. Following the transaction, the chief accounting officer now directly owns 311,608 shares of the company’s stock, valued at approximately $4,602,450.16. This represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,481 shares of company stock worth $1,380,714 over the last three months. Corporate insiders own 17.11% of the company’s stock.

Hedge Funds Weigh In On Spire Global

A number of hedge funds have recently modified their holdings of SPIR. Vanguard Group Inc. lifted its holdings in Spire Global by 23.1% during the 1st quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after purchasing an additional 144,047 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Spire Global in the 3rd quarter worth approximately $629,000. NewGen Asset Management Ltd grew its position in Spire Global by 406.3% during the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock worth $4,390,000 after acquiring an additional 325,000 shares during the last quarter. DNB Asset Management AS grew its position in Spire Global by 117.5% during the 2nd quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock worth $1,145,000 after acquiring an additional 57,137 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Spire Global during the 2nd quarter valued at $722,000. 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.