Spire Global (OTCMKTS:SPIR) Downgraded by Zacks Investment Research

Spire Global (OTCMKTS:SPIRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Spire Global Inc. is a provider of space-based data, analytics and space services. Spire Global Inc., formerly known as NavSight Holdings Inc., is based in VIENNA, Va. “

SPIR has been the topic of a number of other reports. Bank of America lowered Spire Global from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $5.05 to $1.75 in a research note on Wednesday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus initiated coverage on Spire Global in a research report on Thursday, March 3rd. They set a “buy” rating and a $6.00 target price on the stock. CJS Securities initiated coverage on Spire Global in a research report on Monday, March 28th. They set an “outperform” rating and a $6.00 target price on the stock. Piper Sandler decreased their target price on Spire Global from $6.50 to $4.30 and set a “neutral” rating on the stock in a research report on Tuesday, February 1st. Finally, Raymond James initiated coverage on Spire Global in a research report on Thursday, April 21st. They set an “outperform” rating and a $4.00 target price on the stock. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.86.

OTCMKTS SPIR traded down $0.11 during trading on Tuesday, hitting $1.32. 770,155 shares of the company traded hands, compared to its average volume of 1,104,826. The business has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $2.95. Spire Global has a 12 month low of $1.25 and a 12 month high of $19.50.

Spire Global (OTCMKTS:SPIRGet Rating) last posted its quarterly earnings data on Wednesday, May 11th. The technology company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02.

Several large investors have recently bought and sold shares of SPIR. Advisor Group Holdings Inc. raised its position in Spire Global by 127.1% in the 1st quarter. Advisor Group Holdings Inc. now owns 11,678 shares of the technology company’s stock worth $25,000 after purchasing an additional 6,535 shares during the last quarter. Legal & General Group Plc bought a new position in Spire Global in the 4th quarter worth approximately $30,000. Arizona State Retirement System bought a new position in Spire Global in the 4th quarter worth approximately $43,000. JPMorgan Chase & Co. raised its position in Spire Global by 13,117.0% in the 4th quarter. JPMorgan Chase & Co. now owns 13,217 shares of the technology company’s stock worth $45,000 after purchasing an additional 13,117 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in Spire Global in the 1st quarter worth approximately $54,000. Institutional investors own 88.76% of the company’s stock.

About Spire Global (Get Rating)

Spire Global, Inc provides space-based data, analytics, and space services worldwide. It offers its customers with access to datasets and insights about earth from the ultimate vantage point. The company provides current and historical data, insights, and predictive analytics for accurate ship monitoring, real-time vessel updates, port operations, and ship safety and route optimization; global satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; and space-based data, artificial intelligence-powered insights, and predictive weather analytics, as well as space-as-a-service solutions.

Further Reading

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