Spire Global (NYSE:SPIR – Get Free Report) had its target price cut by stock analysts at Stifel Nicolaus from $24.00 to $20.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus‘s price target would indicate a potential upside of 113.84% from the company’s current price.
A number of other equities analysts also recently issued reports on SPIR. Benchmark reiterated a “buy” rating on shares of Spire Global in a research report on Monday, August 3rd. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings cut Spire Global from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday. Finally, Alliance Global Partners raised Spire Global from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, October 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.10.
Read Our Latest Report on SPIR
Spire Global Stock Down 1.1%
SPIR stock opened at $9.35 on Wednesday. The company’s 50-day simple moving average is $10.42 and its 200-day simple moving average is $13.65. Spire Global has a 52-week low of $6.60 and a 52-week high of $25.93. The firm has a market cap of $365.89 million, a P/E ratio of -3.50 and a beta of 3.19.
Spire Global (NYSE:SPIR – Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.05). Spire Global had a negative net margin of 145.22% and a negative return on equity of 54.03%. The business had revenue of $18.05 million during the quarter, compared to analysts’ expectations of $18.53 million. On average, analysts anticipate that Spire Global will post -1.50 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Theresa Condor sold 22,502 shares of Spire Global stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $14.09, for a total value of $317,053.18. Following the sale, the chief executive officer directly owned 948,686 shares in the company, valued at approximately $13,366,985.74. The trade was a 2.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Perez Pelez sold 4,484 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $14.09, for a total value of $63,179.56. Following the sale, the chief operating officer owned 258,632 shares of the company’s stock, valued at approximately $3,644,124.88. This trade represents a 1.70% 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. Over the last 90 days, insiders have sold 75,301 shares of company stock worth $1,005,333. Company insiders own 13.04% of the company’s stock.
Institutional Trading of Spire Global
A number of institutional investors have recently made changes to their positions in SPIR. Global Retirement Partners LLC acquired a new position in Spire Global in the 3rd quarter valued at $32,000. Royce & Associates LP grew its holdings in shares of Spire Global by 26.7% during the third quarter. Royce & Associates LP now owns 823,900 shares of the company’s stock worth $9,211,000 after buying an additional 173,470 shares in the last quarter. Aberdeen Group plc purchased a new stake in shares of Spire Global during the third quarter worth $47,000. Vontobel Holding Ltd. raised its position in shares of Spire Global by 43.0% in the third quarter. Vontobel Holding Ltd. now owns 298,080 shares of the company’s stock valued at $3,333,000 after buying an additional 89,622 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Spire Global in the second quarter valued at about $184,000. 19.97% of the stock is owned by institutional investors and hedge funds.
About Spire Global
Spire Global, Inc. (NYSE:SPIR) is a space-based data and analytics company that develops, owns and operates a constellation of small satellites and related ground infrastructure. The company collects data from space and delivers it through cloud-based platforms, helping organizations monitor conditions and activity across the atmosphere, oceans and global communications environment. Spire’s products and services include weather and climate data derived from satellite observations and GNSS radio occultation, maritime intelligence based on automatic identification system data, aviation information, and radio-frequency analytics.
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