Spire Global, Inc. (NYSE:SPIR – Get Free Report) shares were down 5.7% during trading on Thursday . The stock traded as low as $16.91 and last traded at $17.1150. Approximately 262,725 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,309,825 shares. The stock had previously closed at $18.15.
Wall Street Analyst Weigh In
Several research analysts have recently commented on SPIR shares. Alliance Global Partners reissued a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Weiss Ratings lowered 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 target on Spire Global and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Stifel Nicolaus set a $24.00 price target on Spire Global and gave the stock a “buy” rating in a research report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.70.
Get Our Latest Stock Analysis on Spire Global
Spire Global Trading Down 1.8%
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 the consensus estimate of ($0.38) by $0.01. Spire Global had a negative return on equity of 34.05% and a net margin of 77.12%.The company had revenue of $13.92 million for the quarter, compared to analyst estimates of $15.08 million. On average, research analysts expect that Spire Global, Inc. will post -1.35 EPS for the current year.
Insider Activity at Spire Global
In related news, Chairman Peter Platzer sold 7,184 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.08, for a total transaction of $137,070.72. Following the transaction, the chairman directly owned 1,478,568 shares of the company’s stock, valued at $28,211,077.44. This represents a 0.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 company’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 $469,961.08. Following the transaction, the chief executive officer directly owned 963,670 shares in the company, valued at $18,377,186.90. This represents a 2.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 58,299 shares of company stock worth $1,091,038 over the last ninety days. Corporate insiders own 13.04% of the company’s stock.
Institutional Trading of Spire Global
Several large investors have recently added to or reduced their stakes in the company. Lane Generational LLC grew 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 last quarter. 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 purchasing an additional 7,253 shares during the last quarter. Stifel Financial Corp grew its stake in Spire Global by 32.9% during 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 last quarter. AWM Investment Company Inc. grew its stake in Spire Global by 25.7% during 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 last quarter. Finally, Marshall Wace LLP grew its stake in Spire Global by 58.0% during the 2nd quarter. Marshall Wace LLP now owns 269,401 shares of the company’s stock valued at $3,206,000 after purchasing an additional 98,925 shares during the last quarter. Hedge funds and other institutional investors 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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