Spire Global (NYSE:SPIR) Shares Down 8.1% – What’s Next?

Spire Global, Inc. (NYSE:SPIR) shares were down 8.1% on Thursday . The stock traded as low as $23.88 and last traded at $23.4150. Approximately 325,061 shares traded hands during trading, a decline of 75% from the average daily volume of 1,294,086 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

Several equities analysts recently weighed in on SPIR shares. Alliance Global Partners restated a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Stifel Nicolaus set a $22.00 target price on shares of Spire Global and gave the stock a “buy” rating in a research report on Thursday, May 14th. Canaccord Genuity Group set a $22.50 target price on shares of Spire Global and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wall Street Zen upgraded shares of Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings lowered shares of Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Spire Global currently has a consensus rating of “Moderate Buy” and an average target price of $16.30.

Spire Global Stock Down 6.1%

The business’s 50-day moving average price is $17.78 and its 200 day moving average price is $12.38. The company has a market capitalization of $876.39 million, a P/E ratio of 14.42 and a beta of 2.42.

Spire Global (NYSE:SPIR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates 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. Analysts anticipate that Spire Global, Inc. will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Peter Platzer sold 7,184 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total value of $137,070.72. Following the completion of the transaction, the chairman directly owned 1,478,568 shares in the company, valued at approximately $28,211,077.44. This trade represents a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 firm’s 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 owned 265,838 shares of the company’s stock, valued at $5,072,189.04. This trade represents a 4.56% decrease in their ownership of the stock. 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 58,299 shares of company stock valued at $1,091,038 in the last three months. Insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

A number of large investors have recently modified their holdings of SPIR. Lane Generational LLC boosted its position in shares of Spire Global by 40.4% in the fourth quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock valued at $5,589,000 after acquiring an additional 214,532 shares during the period. Stifel Financial Corp boosted its position in shares of Spire Global by 32.9% in the fourth quarter. Stifel Financial Corp now owns 524,579 shares of the company’s stock valued at $3,934,000 after acquiring an additional 129,990 shares during the period. DNB Asset Management AS purchased a new stake in Spire Global in the fourth quarter valued at approximately $933,000. Raymond James Financial Inc. raised its stake in Spire Global by 210.0% in the second quarter. Raymond James Financial Inc. now owns 171,956 shares of the company’s stock valued at $2,046,000 after purchasing an additional 116,488 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new stake in Spire Global in the second quarter valued at approximately $1,375,000. 19.97% of the stock is currently owned by institutional investors.

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.