Spire Global Sees Unusually Large Options Volume (NYSE:SPIR)

Spire Global, Inc. (NYSE:SPIR) saw some unusual options trading activity on Friday. Traders purchased 3,513 call options on the company. This represents an increase of 105% compared to the typical daily volume of 1,714 call options.

Spire Global Trading Up 1.0 %

Spire Global stock opened at $9.70 on Friday. The company has a market capitalization of $300.38 million, a price-to-earnings ratio of -2.79 and a beta of 2.42. Spire Global has a 12 month low of $6.26 and a 12 month high of $21.43. The stock’s 50 day moving average is $9.28 and its 200-day moving average is $12.36.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SPIR. Stifel Nicolaus lowered their price objective on shares of Spire Global from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Canaccord Genuity Group boosted their price target on Spire Global from $15.50 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird cut their price objective on Spire Global from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, April 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.80.

Insider Activity

In other Spire Global news, CEO Theresa Condor sold 17,979 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $11.27, for a total transaction of $202,623.33. Following the transaction, the chief executive officer now owns 359,173 shares of the company’s stock, valued at $4,047,879.71. The trade was a 4.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Peter Platzer sold 145,600 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $10.38, for a total transaction of $1,511,328.00. Following the completion of the transaction, the chairman now directly owns 1,694,757 shares of the company’s stock, valued at $17,591,577.66. This represents a 7.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 295,314 shares of company stock worth $3,069,869 over the last ninety days. Insiders own 17.11% of the company’s stock.

Institutional Trading of Spire Global

Institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. bought a new stake in shares of Spire Global in the fourth quarter valued at about $37,000. BNP Paribas Financial Markets acquired a new stake in Spire Global in the 4th quarter worth about $42,000. Promus Capital LLC bought a new stake in Spire Global in the 4th quarter valued at about $135,000. JPMorgan Chase & Co. grew its position in shares of Spire Global by 6.1% during the 4th quarter. JPMorgan Chase & Co. now owns 10,428 shares of the company’s stock worth $147,000 after purchasing an additional 597 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Spire Global by 50.8% during the fourth quarter. Wells Fargo & Company MN now owns 10,547 shares of the company’s stock worth $148,000 after purchasing an additional 3,553 shares during the period. 19.97% of the stock is currently 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.