Canaccord Genuity Group Forecasts Strong Price Appreciation for Spire Global (NYSE:SPIR) Stock

Spire Global (NYSE:SPIR) had its target price upped by equities researchers at Canaccord Genuity Group from $12.00 to $18.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 33.53% from the company’s current price.

SPIR has been the subject of several other reports. Robert W. Baird increased their target price on Spire Global from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday. Raymond James reissued a “market perform” rating on shares of Spire Global in a research note on Wednesday, August 28th. Alliance Global Partners lifted their price objective on Spire Global from $17.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday. Baird R W lowered Spire Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and lifted their target price for the stock from $8.00 to $20.00 in a report on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Spire Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.60.

Spire Global Price Performance

SPIR stock opened at $13.48 on Friday. The company’s 50-day moving average price is $9.81 and its two-hundred day moving average price is $10.21. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.35. Spire Global has a 12 month low of $4.56 and a 12 month high of $19.40. The firm has a market cap of $327.83 million, a P/E ratio of -3.93 and a beta of 1.96.

Institutional Trading of Spire Global

A number of hedge funds have recently made changes to their positions in SPIR. Pathway Financial Advisers LLC bought a new position in shares of Spire Global during the first quarter valued at about $27,000. Charles Schwab Investment Management Inc. lifted its stake in Spire Global by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 69,480 shares of the company’s stock worth $694,000 after acquiring an additional 3,072 shares during the period. nVerses Capital LLC purchased a new stake in shares of Spire Global in the 2nd quarter worth about $37,000. Quest Partners LLC raised its stake in Spire Global by 869,900.0% in the third quarter. Quest Partners LLC now owns 8,700 shares of the company’s stock worth $87,000 after buying an additional 8,699 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in Spire Global by 16.5% in the third quarter. Penserra Capital Management LLC now owns 64,663 shares of the company’s stock worth $645,000 after buying an additional 9,149 shares during the period. 19.97% of the stock is 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.