Spire Global (NYSE:SPIR) Lowered to “Sell” Rating by Wall Street Zen

Spire Global (NYSE:SPIR) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

Several other equities analysts have also recently commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Spire Global in a research report on Thursday. Canaccord Genuity Group reiterated a “buy” rating and issued a $12.00 target price (down from $16.00) on shares of Spire Global in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.33.

Spire Global Trading Down 2.3%

NYSE SPIR opened at $7.49 on Friday. The company has a market cap of $245.07 million, a price-to-earnings ratio of 15.29 and a beta of 2.41. The company has a 50 day moving average of $10.90 and a 200-day moving average of $10.62. Spire Global has a 1-year low of $6.85 and a 1-year high of $21.43.

Insider Buying and Selling

In related news, Chairman Peter Platzer sold 117,236 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $8.40, for a total transaction of $984,782.40. Following the completion of the sale, the chairman owned 1,476,164 shares of the company’s stock, valued at $12,399,777.60. This trade represents a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 14.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Spire Global

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Spire Global by 3.4% in the 1st quarter. Bank of New York Mellon Corp now owns 52,760 shares of the company’s stock valued at $427,000 after buying an additional 1,712 shares in the last quarter. Lane Generational LLC lifted its stake in Spire Global by 8.1% during the 1st quarter. Lane Generational LLC now owns 485,617 shares of the company’s stock valued at $3,929,000 after acquiring an additional 36,251 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Spire Global by 22.0% during the first quarter. Deutsche Bank AG now owns 14,143 shares of the company’s stock valued at $114,000 after purchasing an additional 2,554 shares in the last quarter. Herald Investment Management Ltd lifted its position in shares of Spire Global by 6.5% during the 1st quarter. Herald Investment Management Ltd now owns 230,000 shares of the company’s stock worth $1,861,000 after buying an additional 14,000 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Spire Global in the first quarter worth $331,000. 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.