Spire Global (NYSE:SPIR) Trading Up 7.4% - Here's Why

Key Points

• Spire Global shares rose 7.4% in mid-day trading, reaching as high as $15.00, after closing at $13.99 the prior session.
• Analysts remain cautiously constructive: several firms reiterated or upgraded views, with an average rating of “Moderate Buy” and an average price target of $16.70.
• The company recently reported a smaller-than-expected quarterly loss of ($0.37) per share, but revenue of $13.92 million came in below analyst estimates; insiders also sold shares in May related to equity award tax withholding.

Spire Global, Inc. (NYSE:SPIR - Get Free Report) shares were up 7.4% during mid-day trading on Tuesday . The company traded as high as $15.00 and last traded at $15.0290. 188,477 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 1,313,814 shares. The stock had previously closed at $13.99.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SPIR. Canaccord Genuity Group set a $22.50 price target on shares of Spire Global and gave the stock a "buy" rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Spire Global from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 25th. 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. Alliance Global Partners restated a "neutral" rating on shares of Spire Global in a research report on Thursday, May 14th. Finally, Weiss Ratings lowered Spire Global from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $16.70.

Spire Global Stock Up 6.2%

The stock has a market capitalization of $575.35 million, a P/E ratio of 9.51 and a beta of 2.51. The firm's 50-day simple moving average is $18.55 and its 200 day simple moving average is $14.45.

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

Insider Transactions at Spire Global

In other Spire Global news, CTO Johann Gabriel Oehme sold 3,107 shares of Spire Global stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total value of $59,250.49. Following the transaction, the chief technology officer owned 218,096 shares in the company, valued at approximately $4,159,090.72. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alison K. Engel sold 12,702 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total value of $242,354.16. Following the completion of the transaction, the chief financial officer directly owned 265,838 shares in the company, valued at $5,072,189.04. This represents a 4.56% 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. Insiders have sold a total of 55,297 shares of company stock valued at $1,052,433 in the last 90 days. 13.04% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SPIR. Lane Generational LLC raised its stake in Spire Global by 40.4% during the 4th quarter. Lane Generational LLC now owns 745,217 shares of the company's stock valued at $5,589,000 after purchasing an additional 214,532 shares during the period. State Street Corp grew its stake in Spire Global by 1.4% during the 4th quarter. State Street Corp now owns 528,164 shares of the company's stock valued at $3,961,000 after acquiring an additional 7,253 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Spire Global by 32.9% in the 4th quarter. Stifel Financial Corp now owns 524,579 shares of the company's stock valued at $3,934,000 after purchasing an additional 129,990 shares during the period. AWM Investment Company Inc. increased its holdings in shares of Spire Global by 25.7% in the 4th quarter. AWM Investment Company Inc. now owns 418,287 shares of the company's stock valued at $3,137,000 after purchasing an additional 85,492 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Spire Global by 58.0% in the second 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.

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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