Spire Global (NYSE:SPIR) Trading Down 10% - Here's Why

Key Points

• Spire Global shares fell 10% in mid-day trading, dropping to as low as $19.13 after closing at $21.35 the prior day. Trading volume was also below average, with about 657,387 shares changing hands.
• Recent analyst action was mixed, with several firms maintaining or issuing Buy/Hold ratings, including price targets around $22 to $22.50. Despite that, MarketBeat says the stock’s average rating is “Moderate Buy” with an average price target of $16.30.
• The company recently reported a smaller-than-expected quarterly loss of ($0.37) EPS, but revenue of $13.92 million missed estimates. Insider selling also stood out, including shares sold by the CEO and COO to cover tax withholding obligations.

Spire Global, Inc. (NYSE:SPIR - Get Free Report)'s stock price traded down 10% during mid-day trading on Wednesday . The stock traded as low as $19.13 and last traded at $19.21. 657,387 shares changed hands during trading, a decline of 50% from the average session volume of 1,304,518 shares. The stock had previously closed at $21.35.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Alliance Global Partners reaffirmed a "neutral" rating on shares of Spire Global in a research report on Thursday, May 14th. Weiss Ratings cut Spire Global from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, May 15th. Wall Street Zen raised Spire Global from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 25th. Canaccord Genuity Group set a $22.50 price objective on Spire Global and gave the stock a "buy" rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus set a $22.00 price objective on Spire Global and gave the stock a "buy" rating in a research report on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.30.

Spire Global Stock Performance

The stock has a market capitalization of $726.59 million, a price-to-earnings ratio of 11.96 and a beta of 2.48. The business has a 50-day moving average of $17.95 and a 200-day moving average of $12.49.

Spire Global (NYSE:SPIR - Get Free Report) last announced its earnings results 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 during the quarter, compared to analysts' expectations of $15.08 million. Spire Global had a negative return on equity of 34.05% and a net margin of 77.12%. On average, research analysts predict that Spire Global, Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Transactions at Spire Global

In related news, COO Perez Celia Pelez sold 4,660 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $88,866.20. Following the completion of the sale, the chief operating officer directly owned 263,116 shares of the company's stock, valued at $5,017,622.12. This represents a 1.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theresa Condor sold 24,644 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $469,961.08. Following the sale, the chief executive officer directly owned 963,670 shares of the company's stock, valued at $18,377,186.90. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 58,299 shares of company stock worth $1,091,038. Insiders own 13.04% of the company's stock.

Institutional Trading of Spire Global

A number of hedge funds have recently added to or reduced their stakes in SPIR. Royal Bank of Canada lifted its position in Spire Global by 164.6% during the 1st quarter. Royal Bank of Canada now owns 46,728 shares of the company's stock worth $378,000 after acquiring an additional 29,066 shares during the period. JPMorgan Chase & Co. lifted its position in Spire Global by 78.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 19,119 shares of the company's stock worth $228,000 after acquiring an additional 8,395 shares during the period. Rhumbline Advisers lifted its position in Spire Global by 22.3% during the 2nd quarter. Rhumbline Advisers now owns 39,240 shares of the company's stock worth $467,000 after acquiring an additional 7,165 shares during the period. Invesco Ltd. lifted its position in 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 acquiring an additional 2,062 shares during the period. Finally, Marshall Wace LLP lifted its position in Spire Global by 58.0% during the 2nd quarter. Marshall Wace LLP now owns 269,401 shares of the company's stock worth $3,206,000 after acquiring an additional 98,925 shares during the period. 19.97% of the stock is 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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