Spire Global (NYSE:SPIR) Rating Lowered to Hold at Craig Hallum

Craig Hallum cut shares of Spire Global (NYSE:SPIR) from a buy rating to a hold rating in a report issued on Thursday morning, Marketbeat Ratings reports. The brokerage currently has $8.00 target price on the stock, down from their prior target price of $13.00.

SPIR has been the topic of several other research reports. Alliance Global Partners reissued a buy rating on shares of Spire Global in a research note on Thursday, June 13th. Canaccord Genuity Group cut their target price on Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Stifel Nicolaus decreased their price objective on shares of Spire Global from $24.00 to $20.00 and set a buy rating for the company in a research note on Thursday, May 16th. Finally, Robert W. Baird lowered their target price on shares of Spire Global from $20.00 to $15.00 and set an outperform rating for the company in a research note on Thursday, May 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $15.00.

Spire Global Price Performance

NYSE SPIR opened at $7.07 on Thursday. The business’s fifty day moving average price is $11.29 and its 200-day moving average price is $11.01. The stock has a market capitalization of $171.93 million, a price-to-earnings ratio of -2.03 and a beta of 2.01. Spire Global has a 1-year low of $3.27 and a 1-year high of $19.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 2.24.

Hedge Funds Weigh In On Spire Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPIR. Pathway Financial Advisers LLC purchased a new stake in shares of Spire Global during the first quarter worth $27,000. nVerses Capital LLC purchased a new stake in Spire Global in the 2nd quarter valued at $37,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Spire Global in the 1st quarter worth $176,000. Herald Investment Management Ltd boosted its position in shares of Spire Global by 10.0% during the 2nd quarter. Herald Investment Management Ltd now owns 165,000 shares of the company’s stock valued at $1,784,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Spire Global in the fourth quarter valued at about $167,000. 19.97% of the stock is owned by hedge funds and other institutional investors.

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.