Spire Global, Inc. (NYSE:SPIR) Short Interest Update

Key Points

• Short interest surged 70.6% in April to 6,173,856 shares, equal to 21.6% of the stock and a days-to-cover of about 1.7 based on average volume.
• Insiders sold stock (Chairman Peter Platzer sold 58,428 shares and CTO Johann Oehme sold 12,757 on Feb. 20 under a pre-arranged 10b5‑1 plan to cover tax withholding), with insiders owning 13.04% of the company.
• Mixed analyst views and valuation: SPIR trades near $16.28 with a market cap of ~$546M and a PE of 10.3; analysts are split (three Buys, three Holds) and the average price target is $15.17.

Spire Global, Inc. (NYSE:SPIR - Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 6,173,856 shares, a growth of 70.6% from the March 31st total of 3,619,050 shares. Currently, 21.6% of the shares of the stock are short sold. Based on an average trading volume of 3,727,843 shares, the days-to-cover ratio is presently 1.7 days.

Spire Global Price Performance

Shares of Spire Global stock traded down $0.24 during trading hours on Monday, hitting $16.28. The company's stock had a trading volume of 894,821 shares, compared to its average volume of 1,217,041. The company has a market capitalization of $545.70 million, a PE ratio of 10.30 and a beta of 2.23. The stock has a 50 day moving average of $13.35 and a 200 day moving average of $11.09. Spire Global has a 12 month low of $6.60 and a 12 month high of $23.59.

Insider Activity at Spire Global

In other news, Chairman Peter Platzer sold 58,428 shares of the company's stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $8.53, for a total transaction of $498,390.84. Following the transaction, the chairman directly owned 1,693,603 shares in the company, valued at approximately $14,446,433.59. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Johann Gabriel Oehme sold 12,757 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $8.53, for a total transaction of $108,817.21. Following the sale, the chief technology officer directly owned 221,203 shares in the company, valued at $1,886,861.59. This trade represents a 5.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 138,033 shares of company stock valued at $1,219,760. Insiders own 13.04% of the company's stock.

Institutional Trading of Spire Global

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. acquired a new position in shares of Spire Global in the second quarter valued at approximately $25,000. Russell Investments Group Ltd. bought a new stake in Spire Global in the 3rd quarter valued at $25,000. BNP Paribas Financial Markets boosted its stake in Spire Global by 84.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company's stock worth $33,000 after purchasing an additional 1,260 shares during the period. Atlantic Private Wealth LLC increased its holdings in Spire Global by 50.0% during the 3rd quarter. Atlantic Private Wealth LLC now owns 3,000 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Spire Global by 71.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company's stock valued at $49,000 after purchasing an additional 1,699 shares during the period. 19.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SPIR has been the topic of several recent research reports. Wall Street Zen upgraded Spire Global from a "strong sell" rating to a "sell" rating in a report on Saturday. HC Wainwright reiterated a "buy" rating and set a $19.00 price target (up from $14.00) on shares of Spire Global in a research report on Friday, January 23rd. Stifel Nicolaus raised their price objective on shares of Spire Global from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Monday. Weiss Ratings upgraded shares of Spire Global from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, March 20th. Finally, Canaccord Genuity Group set a $22.00 price objective on Spire Global and gave the stock a "buy" rating in a research note on Friday, April 10th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.17.

Spire Global Company Profile

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.

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