Canaccord Genuity Group Has Lowered Expectations for Spire Global (NYSE:SPIR) Stock Price

Spire Global (NYSE:SPIR) had its price target dropped by stock analysts at Canaccord Genuity Group from $12.00 to $10.50 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 22.19% from the company’s current price.

A number of other research firms have also recently commented on SPIR. Weiss Ratings reissued a “sell (d+)” rating on shares of Spire Global in a report on Monday, December 15th. Stifel Nicolaus set a $14.00 price objective on shares of Spire Global and gave the company a “buy” rating in a research note on Thursday, December 18th. Finally, Wall Street Zen lowered shares of Spire Global from a “hold” rating to a “strong sell” rating in a research report on Sunday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.63.

Spire Global Stock Down 5.2%

NYSE:SPIR opened at $8.59 on Monday. The stock’s 50-day simple moving average is $9.28 and its 200 day simple moving average is $10.22. The firm has a market capitalization of $284.43 million, a PE ratio of 22.61 and a beta of 2.43. Spire Global has a twelve month low of $6.60 and a twelve month high of $21.43.

Insider Buying and Selling

In other Spire Global news, Chairman Peter Platzer sold 117,236 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $8.40, for a total value of $984,782.40. Following the sale, the chairman owned 1,476,164 shares in the company, valued at approximately $12,399,777.60. The trade was a 7.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 14.68% of the company’s stock.

Hedge Funds Weigh In On Spire Global

A number of hedge funds have recently made changes to their positions in SPIR. 325 Capital LLC acquired a new position in shares of Spire Global in the first quarter worth approximately $15,169,000. Alyeska Investment Group L.P. acquired a new stake in Spire Global during the 1st quarter valued at approximately $10,056,000. Granahan Investment Management LLC raised its holdings in Spire Global by 803.6% during the 1st quarter. Granahan Investment Management LLC now owns 1,139,175 shares of the company’s stock worth $9,216,000 after purchasing an additional 1,013,106 shares during the last quarter. AWM Investment Company Inc. lifted its position in shares of Spire Global by 1,044.0% in the 2nd quarter. AWM Investment Company Inc. now owns 266,545 shares of the company’s stock worth $3,172,000 after purchasing an additional 243,246 shares during the period. Finally, Herald Investment Management Ltd lifted its position in shares of Spire Global by 67.9% in the 2nd quarter. Herald Investment Management Ltd now owns 386,249 shares of the company’s stock worth $4,596,000 after purchasing an additional 156,249 shares during the period. 19.97% of the stock is currently owned by institutional investors.

Spire Global Company Profile

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.