Spire Global (NYSE:SPIR) Stock Price Down 7.3% – Here’s Why

Spire Global, Inc. (NYSE:SPIR) traded down 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 were traded during trading, a decline of 58% from the average session volume of 1,318,028 shares. The stock had previously closed at $16.04.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPIR. Stifel Nicolaus set a $24.00 target price on Spire Global and gave the stock a “buy” rating in a research report on Thursday, June 4th. Canaccord Genuity Group set a $22.50 price objective on Spire Global and gave the stock a “buy” rating in a report on Thursday, May 14th. Weiss Ratings cut Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Wall Street Zen raised shares of Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Alliance Global Partners restated a “neutral” rating on shares of Spire Global in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.70.

Spire Global Trading Down 7.8%

The stock has a market capitalization of $572.17 million, a P/E ratio of 9.43 and a beta of 2.51. The stock’s 50 day simple moving average is $18.65 and its 200 day simple moving average is $14.37.

Spire Global (NYSE:SPIR) last issued its earnings results on Wednesday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. The business had revenue of $13.92 million for the quarter, compared to analyst estimates of $15.08 million. Spire Global had a net margin of 77.12% and a negative return on equity of 34.05%. On average, sell-side analysts expect that Spire Global, Inc. will post -1.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other Spire Global news, Chairman Peter Platzer sold 7,184 shares of the 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 sale, the chairman directly owned 1,478,568 shares of the company’s stock, valued at approximately $28,211,077.44. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 directly owned 265,838 shares in the company, valued at $5,072,189.04. This represents a 4.56% decrease in their position. 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. In the last ninety days, insiders sold 55,297 shares of company stock worth $1,052,433. Corporate insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lane Generational LLC raised its holdings in shares of Spire Global by 40.4% during the fourth quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock valued at $5,589,000 after buying an additional 214,532 shares during the last quarter. State Street Corp increased its position in Spire Global by 1.4% in the 4th quarter. State Street Corp now owns 528,164 shares of the company’s stock valued at $3,961,000 after acquiring an additional 7,253 shares during the period. Stifel Financial Corp raised 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 acquiring an additional 129,990 shares in the last quarter. AWM Investment Company Inc. raised 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 acquiring an additional 85,492 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Spire Global by 58.0% during the second 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 period. Institutional investors and hedge funds 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.