Canaccord Genuity Group Issues Pessimistic Forecast for Spire Global (NYSE:SPIR) Stock Price

Spire Global (NYSE:SPIR) had its target price decreased by equities researchers at Canaccord Genuity Group from $12.00 to $10.50 in a report released on Monday, Marketbeat.com reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 33.59% from the stock’s current price.

A number of other research analysts also recently commented on SPIR. Stifel Nicolaus set a $14.00 target price on Spire Global and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Spire Global in a research note on Monday, December 15th. Finally, Wall Street Zen downgraded shares of Spire Global from a “hold” rating to a “strong sell” rating in a report on Sunday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Spire Global Stock Performance

Shares of Spire Global stock opened at $7.86 on Monday. Spire Global has a 1 year low of $6.60 and a 1 year high of $21.43. The firm’s 50-day simple moving average is $9.45 and its 200-day simple moving average is $10.25. The firm has a market cap of $260.17 million, a PE ratio of 20.68 and a beta of 2.43.

Insider Buying and Selling

In other Spire Global news, Chairman Peter Platzer sold 117,236 shares of the stock in a transaction on 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 14.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spire Global

Several institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Spire Global in the 3rd quarter valued at about $396,000. Verition Fund Management LLC acquired a new stake in shares of Spire Global in the third quarter valued at approximately $343,000. Millennium Management LLC raised its holdings in shares of Spire Global by 53.3% during the third quarter. Millennium Management LLC now owns 201,104 shares of the company’s stock valued at $2,210,000 after buying an additional 69,884 shares during the last quarter. Brevan Howard Capital Management LP boosted its position in shares of Spire Global by 37.7% during the third quarter. Brevan Howard Capital Management LP now owns 30,533 shares of the company’s stock worth $336,000 after buying an additional 8,367 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Spire Global by 35.7% during the third quarter. Bank of America Corp DE now owns 108,625 shares of the company’s stock worth $1,194,000 after buying an additional 28,574 shares during the period. Institutional investors own 19.97% of the company’s stock.

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.