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

Key Points

• Shares gapped down: SPIR opened at $17.68 after closing at $20.50 and last traded around $17.91 on roughly 3.9 million shares.
• Mixed analyst view with low average target: Three analysts rate it Buy and three Hold, giving a "Moderate Buy" consensus but an average price target of $13.33, below the prior close.
• Insider selling: CEO and COO sold shares on Feb. 20; insiders sold 122,276 shares over the past 90 days (~$1.06M) and now own about 14.68% of the company.

Spire Global, Inc. (NYSE:SPIR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $20.50, but opened at $17.68. Spire Global shares last traded at $17.9080, with a volume of 3,898,823 shares trading hands.

Analyst Ratings Changes

Several brokerages recently commented on SPIR. Alliance Global Partners downgraded shares of Spire Global from a "buy" rating to a "neutral" rating and reduced their price target for the company from $17.00 to $9.00 in a research report on Tuesday, December 23rd. Stifel Nicolaus lifted their price target on Spire Global from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, March 19th. HC Wainwright reiterated a "buy" rating and set a $19.00 price target (up from $14.00) on shares of Spire Global in a report on Friday, January 23rd. iA Financial set a $9.00 price target on Spire Global in a report on Tuesday, December 23rd. Finally, Canaccord Genuity Group lifted their price target on Spire Global from $10.50 to $14.00 and gave the company a "buy" rating in a report on Friday, March 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $13.33.

Spire Global Price Performance

The firm has a market cap of $609.03 million, a PE ratio of 11.43 and a beta of 2.23. The business has a fifty day moving average price of $11.20 and a two-hundred day moving average price of $10.49.

Insider Activity at Spire Global

In related news, COO Perez Celia Pelez sold 19,134 shares of Spire Global stock in a transaction on Friday, February 20th. The stock was sold at an average price of $8.53, for a total transaction of $163,213.02. Following the completion of the sale, the chief operating officer owned 267,776 shares of the company's stock, valued at approximately $2,284,129.28. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Theresa Condor sold 41,712 shares of Spire Global stock in a transaction on Friday, February 20th. The shares were sold at an average price of $8.53, for a total value of $355,803.36. Following the sale, the chief executive officer directly owned 1,116,581 shares of the company's stock, valued at approximately $9,524,435.93. The trade was a 3.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 122,276 shares of company stock valued at $1,056,013. Insiders own 14.68% of the company's stock.

Hedge Funds Weigh In On Spire Global

Several large investors have recently made changes to their positions in the business. Atlantic Private Wealth LLC lifted its position in shares of 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 during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Spire Global by 84.6% during 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Spire Global by 12.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,025 shares of the company's stock worth $179,000 after purchasing an additional 1,695 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Spire Global by 71.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company's stock worth $49,000 after purchasing an additional 1,699 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Spire Global by 19.5% during the 2nd quarter. Invesco Ltd. now owns 12,623 shares of the company's stock worth $150,000 after purchasing an additional 2,062 shares during the last quarter. Institutional investors and hedge funds own 19.97% of the company's stock.

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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