Spire Global, Inc. (NYSE:SPIR) Receives Average Rating of “Hold” from Brokerages

Shares of Spire Global, Inc. (NYSE:SPIR) have been given a consensus recommendation of “Hold” by the five research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.70.

A number of research firms recently commented on SPIR. Weiss Ratings lowered shares of Spire Global from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. 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 target on Spire Global and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Alliance Global Partners reissued a “neutral” rating on shares of Spire Global in a research note on Thursday, May 14th.

Insider Buying and Selling at Spire Global

In related news, Chairman Peter Platzer sold 7,184 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 $137,070.72. Following the completion of the transaction, the chairman owned 1,478,568 shares of the company’s stock, valued at $28,211,077.44. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Theresa Condor sold 24,644 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total transaction of $469,961.08. Following the completion of the sale, the chief executive officer owned 963,670 shares in the company, valued at approximately $18,377,186.90. This trade represents a 2.49% 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. Over the last three months, insiders have sold 55,297 shares of company stock valued at $1,052,433. Corporate insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Several hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. bought a new stake in shares of Spire Global in the 2nd quarter worth approximately $25,000. Russell Investments Group Ltd. bought a new stake in Spire Global during the third quarter worth approximately $25,000. BNP Paribas Financial Markets boosted its holdings in Spire Global by 84.6% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $33,000 after buying an additional 1,260 shares in the last quarter. Leonteq Securities AG acquired a new position in Spire Global in the fourth quarter worth approximately $44,000. Finally, Tower Research Capital LLC TRC grew its position in Spire Global by 71.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company’s stock worth $49,000 after buying an additional 1,699 shares during the last quarter. Institutional investors and hedge funds own 19.97% of the company’s stock.

Spire Global Stock Down 11.2%

Shares of SPIR opened at $12.10 on Friday. The firm has a 50-day moving average price of $18.34 and a 200 day moving average price of $14.56. The firm has a market capitalization of $468.39 million, a PE ratio of 7.71 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 results on Wednesday, May 13th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The company had revenue of $13.92 million for the quarter, compared to the consensus estimate of $15.08 million. Spire Global had a net margin of 77.12% and a negative return on equity of 34.05%. On average, equities analysts expect that Spire Global will post -1.35 EPS for the current year.

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.