Spire Global (NYSE:SPIR) Trading 7.4% Higher – Here’s Why

Spire Global, Inc. (NYSE:SPIR) shares were up 7.4% during trading on Tuesday . The company traded as high as $15.00 and last traded at $15.0290. Approximately 188,477 shares were traded during trading, a decline of 86% from the average daily volume of 1,313,814 shares. The stock had previously closed at $13.99.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SPIR shares. Weiss Ratings cut Spire Global from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. 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. Canaccord Genuity Group set a $22.50 target price on shares of Spire Global and gave the company a “buy” rating in a report on Thursday, May 14th. Stifel Nicolaus set a $24.00 target price on shares of Spire Global and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Spire Global presently has a consensus rating of “Hold” and a consensus target price of $16.70.

Spire Global Price Performance

The firm has a market cap of $530.08 million, a PE ratio of 8.72 and a beta of 2.51. The stock has a 50-day moving average price of $18.42 and a 200 day moving average price of $14.53.

Spire Global (NYSE:SPIR) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.08 million. As a group, equities research analysts anticipate that Spire Global, Inc. will post -1.35 earnings per share for the current year.

Insider Activity at Spire Global

In related news, CFO Alison K. Engel sold 12,702 shares of Spire Global stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $19.08, for a total value of $242,354.16. Following the transaction, the chief financial officer owned 265,838 shares in the company, valued at approximately $5,072,189.04. This trade represents a 4.56% decrease in their ownership of the stock. The sale 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, Chairman Peter Platzer sold 7,184 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.08, for a total value of $137,070.72. Following the sale, the chairman owned 1,478,568 shares of the company’s stock, valued at $28,211,077.44. This represents a 0.48% 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 sold 55,297 shares of company stock worth $1,052,433. 13.04% of the stock is owned by corporate insiders.

Institutional Trading of Spire Global

A number of institutional investors have recently modified their holdings of the company. Osaic Holdings Inc. acquired a new position in Spire Global during the second quarter valued at approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of Spire Global during the 3rd quarter valued at $25,000. BNP Paribas Financial Markets boosted its position in Spire Global by 84.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $33,000 after purchasing an additional 1,260 shares during the period. Leonteq Securities AG purchased a new stake in Spire Global during the 4th quarter worth $44,000. Finally, Tower Research Capital LLC TRC increased its holdings in Spire Global by 71.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company’s stock valued at $49,000 after purchasing an additional 1,699 shares in the last quarter. Hedge funds and other institutional investors 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.