Analysts Set Spire Global, Inc. (NYSE:SPIR) Target Price at $16.70

Spire Global, Inc. (NYSE:SPIR) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.70.

A number of research firms have recently issued reports on SPIR. Stifel Nicolaus set a $24.00 price objective on shares of Spire Global and gave the company a “buy” rating in a research note on Thursday, June 4th. Alliance Global Partners reaffirmed a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a 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, Weiss Ratings cut Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th.

Spire Global Stock Up 4.2%

SPIR opened at $14.58 on Friday. The stock’s fifty day moving average is $18.51 and its two-hundred day moving average is $14.49. The company has a market capitalization of $564.39 million, a P/E ratio of 9.29 and a beta of 2.51. Spire Global has a 52 week low of $6.60 and a 52 week high of $25.93.

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

Insider Activity

In other news, COO Perez Celia Pelez sold 4,660 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 transaction of $88,866.20. Following the transaction, the chief operating officer owned 263,116 shares in the company, valued at $5,017,622.12. This represents a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 directly owned 265,838 shares of the company’s stock, valued at $5,072,189.04. The trade was a 4.56% decrease in their ownership of the stock. 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 worth $1,052,433 over the last 90 days. 13.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. DNB Asset Management AS purchased a new position in shares of Spire Global during the 4th quarter valued at about $933,000. Tudor Investment Corp ET AL purchased a new stake in shares of Spire Global in the third quarter worth about $396,000. JPMorgan Chase & Co. boosted its stake in shares of Spire Global by 77.2% in the third quarter. JPMorgan Chase & Co. now owns 33,877 shares of the company’s stock worth $372,000 after buying an additional 14,758 shares during the last quarter. tru Independence LLC acquired a new stake in Spire Global during the fourth quarter worth about $79,000. Finally, Parvin Asset Management LLC raised its position in Spire Global by 11.4% during the first quarter. Parvin Asset Management LLC now owns 11,725 shares of the company’s stock valued at $148,000 after acquiring an additional 1,200 shares in 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.