Spire Global (NYSE:SPIR) Trading Down 7.3% – Here’s What Happened

Spire Global, Inc. (NYSE:SPIR)’s stock price fell 7.3% during mid-day trading on Friday . The stock traded as low as $14.86 and last traded at $14.87. Approximately 548,290 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,318,028 shares. The stock had previously closed at $16.04.

Analysts Set New Price Targets

SPIR has been the topic of a number of analyst reports. 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. Weiss Ratings downgraded shares of Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $24.00 price target on shares of Spire Global and gave the company a “buy” rating in a report on Thursday, June 4th. 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. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a report on Thursday, May 14th. Three investment 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, the company currently has an average rating of “Moderate Buy” and an average target price of $16.70.

Spire Global Trading Down 8.0%

The company’s 50-day moving average price is $18.62 and its two-hundred day moving average price is $14.37. The company has a market cap of $571.44 million, a P/E ratio of 9.40 and a beta of 2.51.

Spire Global (NYSE:SPIR) last announced 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. The firm had revenue of $13.92 million during the quarter, compared to analyst estimates of $15.08 million. Spire Global had a negative return on equity of 34.05% and a net margin of 77.12%. As a group, analysts anticipate that Spire Global, Inc. will post -1.35 earnings per share for the current year.

Insider Activity at Spire Global

In other news, Chairman Peter Platzer sold 7,184 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total transaction of $137,070.72. Following the completion of the transaction, the chairman owned 1,478,568 shares of the company’s stock, valued at approximately $28,211,077.44. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 dated Wednesday, May 20th. The stock was sold at an average price of $19.08, for a total transaction of $242,354.16. Following the completion of the transaction, the chief financial officer owned 265,838 shares of the company’s stock, valued at approximately $5,072,189.04. This trade represents a 4.56% decrease in their position. 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. Insiders sold 55,297 shares of company stock valued at $1,052,433 in the last ninety days. 13.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Spire Global

Several institutional investors have recently bought and sold shares of the stock. Lane Generational LLC raised its position in shares of Spire Global by 40.4% during the 4th quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock worth $5,589,000 after buying an additional 214,532 shares in the last quarter. State Street Corp boosted its position in shares of 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 in the last quarter. Stifel Financial Corp raised 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 worth $3,934,000 after purchasing an additional 129,990 shares in the last quarter. AWM Investment Company Inc. grew its position in Spire Global by 25.7% in the fourth quarter. AWM Investment Company Inc. now owns 418,287 shares of the company’s stock worth $3,137,000 after buying an additional 85,492 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of 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 acquiring an additional 98,925 shares during the last quarter. Institutional investors and hedge funds own 19.97% of the company’s stock.

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.