Bank of New York Mellon Corp Takes $722,000 Position in Spire Global, Inc. (NYSE:SPIR)

Bank of New York Mellon Corp purchased a new position in Spire Global, Inc. (NYSE:SPIR) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 66,594 shares of the company’s stock, valued at approximately $722,000.

Several other institutional investors have also added to or reduced their stakes in SPIR. Vanguard Group Inc. boosted its holdings in shares of Spire Global by 23.1% during the first quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock worth $9,220,000 after purchasing an additional 144,047 shares during the period. Ancora Advisors LLC increased its position in Spire Global by 429.2% during the 1st quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock valued at $3,953,000 after purchasing an additional 267,197 shares during the period. CVI Holdings LLC bought a new position in Spire Global in the 1st quarter worth $3,131,000. DNB Asset Management AS lifted its position in shares of Spire Global by 117.5% in the 2nd quarter. DNB Asset Management AS now owns 105,745 shares of the company’s stock worth $1,145,000 after purchasing an additional 57,137 shares during the period. Finally, LA Financiere DE L Echiquier boosted its stake in shares of Spire Global by 31.2% during the 2nd quarter. LA Financiere DE L Echiquier now owns 101,000 shares of the company’s stock valued at $1,095,000 after purchasing an additional 24,000 shares in the last quarter. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

Spire Global Trading Down 5.9 %

Shares of SPIR opened at $10.28 on Monday. The company’s fifty day moving average is $10.38 and its 200 day moving average is $10.66. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market capitalization of $249.99 million, a PE ratio of -2.95 and a beta of 1.96. Spire Global, Inc. has a fifty-two week low of $3.27 and a fifty-two week high of $19.40.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SPIR. Raymond James reaffirmed a “market perform” rating on shares of Spire Global in a research report on Wednesday, August 28th. Baird R W downgraded shares of Spire Global from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 15th. Alliance Global Partners reaffirmed a “buy” rating on shares of Spire Global in a research report on Thursday, June 13th. Craig Hallum lowered Spire Global from a “buy” rating to a “hold” rating and decreased their target price for the stock from $13.00 to $8.00 in a research report on Thursday, August 15th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $12.00 price target (down from $20.00) on shares of Spire Global in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Spire Global currently has a consensus rating of “Hold” and an average price target of $13.67.

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.