Spire Global (NYSE:SPIR) Stock Price Up 9.5% - Still a Buy?

Key Points

• Spire Global shares rose 9.5% in Wednesday trading, reaching as high as $18.87 before settling near $18.77, on volume below its recent average.
• Analyst sentiment is mixed but generally constructive: the stock has a Moderate Buy consensus with a $16.70 average price target, while recent targets from Stifel and Canaccord were $24.00 and $22.50, respectively.
• The company recently beat EPS estimates by a penny but missed on revenue, and insiders have been selling shares; meanwhile, hedge funds have been increasing their stakes in the stock.

Spire Global, Inc. (NYSE:SPIR - Get Free Report)'s share price traded up 9.5% during mid-day trading on Wednesday . The stock traded as high as $18.87 and last traded at $18.7740. 649,089 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,315,081 shares. The stock had previously closed at $17.15.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SPIR shares. Weiss Ratings lowered shares of Spire Global from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Canaccord Genuity Group set a $22.50 price objective on Spire Global and gave the stock a "buy" rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Spire Global from a "strong sell" rating to a "sell" rating in a report on Saturday, April 25th. Alliance Global Partners reaffirmed a "neutral" rating on shares of Spire Global in a research report on Thursday, May 14th. Finally, Stifel Nicolaus set a $24.00 target price on Spire Global and gave the stock a "buy" rating in a report on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Spire Global currently has an average rating of "Moderate Buy" and a consensus price target of $16.70.

Spire Global Trading Up 6.4%

The firm has a market cap of $706.15 million, a PE ratio of 11.62 and a beta of 2.48. The business's 50-day simple moving average is $19.04 and its 200 day simple moving average is $13.31.

Spire Global (NYSE:SPIR - Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.01. The firm had revenue of $13.92 million for the quarter, compared to the consensus estimate of $15.08 million. Spire Global had a net margin of 77.12% and a negative return on equity of 34.05%. Analysts expect that Spire Global, Inc. will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Spire Global

In related news, CTO Johann Gabriel Oehme sold 3,107 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total transaction of $59,250.49. Following the completion of the sale, the chief technology officer directly owned 218,096 shares in the company, valued at $4,159,090.72. This represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Perez Celia Pelez sold 4,660 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total value of $88,866.20. Following the sale, the chief operating officer directly owned 263,116 shares in the company, valued at approximately $5,017,622.12. The trade was a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 58,299 shares of company stock worth $1,091,038. 13.04% of the stock is currently owned by company insiders.

Institutional Trading of Spire Global

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Spire Global by 164.6% in the 1st quarter. Royal Bank of Canada now owns 46,728 shares of the company's stock worth $378,000 after buying an additional 29,066 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Spire Global by 78.3% during the second quarter. JPMorgan Chase & Co. now owns 19,119 shares of the company's stock valued at $228,000 after acquiring an additional 8,395 shares during the last quarter. Rhumbline Advisers lifted its position in Spire Global by 22.3% during the second quarter. Rhumbline Advisers now owns 39,240 shares of the company's stock valued at $467,000 after acquiring an additional 7,165 shares during the last quarter. Invesco Ltd. boosted its stake in Spire Global by 19.5% in the second quarter. Invesco Ltd. now owns 12,623 shares of the company's stock valued at $150,000 after acquiring an additional 2,062 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Spire Global by 58.0% in the second quarter. Marshall Wace LLP now owns 269,401 shares of the company's stock valued at $3,206,000 after acquiring an additional 98,925 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

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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