Canaccord Genuity Group Increases Spire Global (NYSE:SPIR) Price Target to $14.00

Spire Global (NYSE:SPIR) had its price target upped by research analysts at Canaccord Genuity Group from $10.50 to $14.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 14.67% from the company’s current price.

A number of other brokerages have also weighed in on SPIR. Stifel Nicolaus boosted their target price on shares of Spire Global from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $19.00 price target (up from $14.00) on shares of Spire Global in a research note on Friday, January 23rd. Wall Street Zen cut Spire Global from a “hold” rating to a “strong sell” rating in a research report on Sunday, December 21st. Alliance Global Partners downgraded Spire Global from a “buy” rating to a “neutral” rating and lowered their target price for the company from $17.00 to $9.00 in a report on Tuesday, December 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Spire Global in a research report on Monday, December 22nd. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.33.

Spire Global Stock Performance

Shares of NYSE SPIR traded up $0.01 during mid-day trading on Friday, hitting $12.21. 1,788,521 shares of the stock traded hands, compared to its average volume of 680,787. The stock has a fifty day moving average price of $10.52 and a 200-day moving average price of $10.02. The company has a market cap of $404.12 million, a price-to-earnings ratio of 7.73 and a beta of 2.50. Spire Global has a 52 week low of $6.60 and a 52 week high of $14.52.

Insider Buying and Selling

In related news, Chairman Peter Platzer sold 58,428 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $8.53, for a total value of $498,390.84. Following the completion of the transaction, the chairman owned 1,693,603 shares of the company’s stock, valued at approximately $14,446,433.59. This represents a 3.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Perez Celia Pelez sold 19,134 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $8.53, for a total value of $163,213.02. Following the completion of the sale, the chief operating officer owned 267,776 shares of the company’s stock, valued at $2,284,129.28. The trade was a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 119,274 shares of company stock valued at $1,017,407. 14.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spire Global

Several large investors have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in shares of Spire Global in the 4th quarter valued at about $89,000. XTX Topco Ltd increased its stake in Spire Global by 26.8% during the fourth quarter. XTX Topco Ltd now owns 55,702 shares of the company’s stock worth $418,000 after acquiring an additional 11,780 shares during the last quarter. Tudor Investment Corp ET AL increased its stake in Spire Global by 24.0% during the fourth quarter. Tudor Investment Corp ET AL now owns 44,651 shares of the company’s stock worth $335,000 after acquiring an additional 8,635 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Spire Global during the fourth quarter valued at approximately $193,000. Finally, Engineers Gate Manager LP purchased a new stake in Spire Global during the fourth quarter valued at approximately $154,000. 19.97% of the stock is owned by institutional investors.

About Spire Global

Spire Global (NYSE: SPIR) is a space-to-cloud data and analytics company that operates a constellation of low Earth orbit nanosatellites to collect radio occultation, maritime Automatic Identification System (AIS), and aviation tracking data. By leveraging proprietary satellite hardware and ground infrastructure, Spire captures precise, near-real-time observations of Earth’s atmosphere, oceans, and surface traffic to power downstream analytics for weather forecasting, fleet optimization, and safety monitoring.

The company’s core offerings include weather and climate intelligence derived from GPS radio occultation, which enhances numerical weather prediction models; maritime domain awareness services that track vessel movements and supply chain dynamics; and aviation analytics that monitor air traffic for efficiency and security applications.