Spire Global (NYSE:SPIR) Receives New Coverage from Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Spire Global (NYSE:SPIR) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued a buy rating and a $22.00 price target on the stock.

Separately, Canaccord Genuity Group dropped their price objective on shares of Spire Global from $25.00 to $24.00 and set a buy rating for the company in a report on Friday, March 22nd.

Spire Global Price Performance

Shares of SPIR stock opened at $9.83 on Thursday. Spire Global has a one year low of $2.80 and a one year high of $19.40. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.67 and a current ratio of 1.67. The firm’s 50 day moving average price is $11.88 and its 200-day moving average price is $7.89.

Spire Global (NYSE:SPIR) last released its quarterly earnings results on Wednesday, March 6th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.25. The business had revenue of $27.73 million during the quarter, compared to analyst estimates of $29.23 million. Spire Global had a negative return on equity of 66.20% and a negative net margin of 60.51%. On average, research analysts forecast that Spire Global will post -0.88 earnings per share for the current year.

Insider Activity

In related news, CEO Peter Platzer sold 12,534 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the sale, the chief executive officer now directly owns 1,462,238 shares in the company, valued at $16,654,890.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Theresa Condor sold 5,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total transaction of $66,859.30. Following the completion of the transaction, the chief operating officer now directly owns 235,141 shares of the company’s stock, valued at approximately $2,678,255.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Platzer sold 12,534 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total value of $142,762.26. Following the sale, the chief executive officer now directly owns 1,462,238 shares in the company, valued at approximately $16,654,890.82. The disclosure for this sale can be found here. Company insiders own 20.43% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Spire Global by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 2,116,384 shares of the company’s stock valued at $1,414,000 after buying an additional 71,899 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Spire Global by 853.0% in the second quarter. Renaissance Technologies LLC now owns 1,115,947 shares of the company’s stock valued at $575,000 after acquiring an additional 998,847 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Spire Global by 1,032.0% during the second quarter. Goldman Sachs Group Inc. now owns 795,630 shares of the company’s stock worth $410,000 after purchasing an additional 725,343 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Spire Global by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 624,296 shares of the company’s stock worth $4,882,000 after purchasing an additional 24,552 shares in the last quarter. Finally, Lane Generational LLC lifted its holdings in shares of Spire Global by 15.4% in the 4th quarter. Lane Generational LLC now owns 423,018 shares of the company’s stock valued at $3,308,000 after purchasing an additional 56,348 shares during the last quarter. 19.97% of the stock is currently owned by hedge funds and other institutional investors.

Spire Global Company Profile

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.