Spire Global (NYSE:SPIR) Shares Down 12.1% - Here's What Happened

Key Points

• Shares down 12.1%: Spire Global fell to $16.085 on Thursday (intraday low $16.11) on 707,217 shares traded, about 42% below its average session volume.
• Mixed analyst view but overall "Moderate Buy": Three analysts rate SPIR a Buy and three a Hold, giving a consensus of "Moderate Buy" with an average price target of $15.17 and individual targets ranging as high as $22.00.
• Notable insider selling: CEO Theresa Condor sold 41,712 shares and the COO sold 19,134 on Feb. 20, with insiders offloading 138,033 shares (~$1.22M) over the past 90 days; insiders still own 13.04% of the company.

Spire Global, Inc. (NYSE:SPIR - Get Free Report)'s stock price traded down 12.1% on Thursday . The stock traded as low as $16.11 and last traded at $16.0850. 707,217 shares traded hands during mid-day trading, a decline of 42% from the average session volume of 1,215,309 shares. The stock had previously closed at $18.30.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $19.00 target price (up from $14.00) on shares of Spire Global in a research note on Friday, January 23rd. Weiss Ratings raised shares of Spire Global from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, March 20th. Stifel Nicolaus raised their target price on shares of Spire Global from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Canaccord Genuity Group set a $22.00 price target on Spire Global and gave the company a "buy" rating in a report on Friday, April 10th. Finally, Wall Street Zen raised Spire Global from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $15.17.

Spire Global Stock Performance

The firm has a fifty day simple moving average of $14.27 and a 200-day simple moving average of $11.25. The firm has a market cap of $541.64 million, a price-to-earnings ratio of 10.22 and a beta of 2.42.

Insiders Place Their Bets

In other Spire Global news, CEO Theresa Condor sold 41,712 shares of the firm's stock in a transaction on Friday, February 20th. The stock was sold at an average price of $8.53, for a total transaction of $355,803.36. Following the completion of the sale, the chief executive officer owned 1,116,581 shares of the company's stock, valued at $9,524,435.93. This trade represents a 3.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Perez Celia Pelez sold 19,134 shares of the firm's stock in a transaction on Friday, February 20th. The shares were sold at an average price of $8.53, for a total value of $163,213.02. Following the sale, the chief operating officer directly owned 267,776 shares of the company's stock, valued at $2,284,129.28. This represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 138,033 shares of company stock worth $1,219,760. Company insiders own 13.04% of the company's stock.

Hedge Funds Weigh In On Spire Global

Several institutional investors and hedge funds have recently modified their holdings of the business. Lane Generational LLC grew its stake in shares of Spire Global by 40.4% in the fourth quarter. Lane Generational LLC now owns 745,217 shares of the company's stock valued at $5,589,000 after acquiring an additional 214,532 shares in the last quarter. State Street Corp raised its stake in Spire Global by 1.4% in the 4th quarter. State Street Corp now owns 528,164 shares of the company's stock worth $3,961,000 after purchasing an additional 7,253 shares in the last quarter. Stifel Financial Corp raised its stake in Spire Global by 32.9% in the 4th quarter. Stifel Financial Corp now owns 524,579 shares of the company's stock worth $3,934,000 after purchasing an additional 129,990 shares in the last quarter. AWM Investment Company Inc. raised its stake in Spire Global by 25.7% in the 4th quarter. AWM Investment Company Inc. now owns 418,287 shares of the company's stock worth $3,137,000 after purchasing an additional 85,492 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Spire Global by 58.0% in the 2nd quarter. Marshall Wace LLP now owns 269,401 shares of the company's stock worth $3,206,000 after purchasing an additional 98,925 shares in the last quarter. 19.97% of the stock is currently owned by institutional investors and hedge funds.

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.

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