Spire Global (NYSE:SPIR) Shares Down 5.7% – Here’s What Happened

Spire Global, Inc. (NYSE:SPIR)’s share price was down 5.7% on Thursday . The stock traded as low as $16.91 and last traded at $17.1150. Approximately 262,725 shares traded hands during trading, a decline of 80% from the average daily volume of 1,309,825 shares. The stock had previously closed at $18.15.

Analyst Upgrades and Downgrades

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

Spire Global Trading Down 1.8%

The company has a market cap of $689.77 million, a price-to-earnings ratio of 11.36 and a beta of 2.48. The business has a fifty day moving average of $19.09 and a two-hundred day moving average of $13.38.

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

Insider Buying and Selling

In related news, COO Perez Celia Pelez sold 4,660 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $88,866.20. Following the completion of the transaction, the chief operating officer owned 263,116 shares of the company’s stock, valued at approximately $5,017,622.12. This represents a 1.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $469,961.08. Following the completion of the transaction, the chief executive officer directly owned 963,670 shares of the company’s stock, valued at $18,377,186.90. The trade was a 2.49% decrease in their position. 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 have sold a total of 58,299 shares of company stock worth $1,091,038 in the last ninety days. 13.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Spire Global

A number of large investors have recently bought and sold shares of the business. Osaic Holdings Inc. acquired a new position in shares of 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 third quarter valued at approximately $25,000. BNP Paribas Financial Markets increased its holdings in shares of Spire Global by 84.6% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $33,000 after purchasing an additional 1,260 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Spire Global by 71.2% in the second 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 during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Spire Global in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 19.97% of the company’s stock.

Spire Global Company Profile

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.