Spire Global (NYSE:SPIR) Shares Up 8.7% – Should You Buy?

Spire Global, Inc. (NYSE:SPIR)’s share price shot up 8.7% on Thursday . The company traded as high as $20.20 and last traded at $20.6970. 208,296 shares changed hands during trading, a decline of 84% from the average session volume of 1,299,572 shares. The stock had previously closed at $19.04.

Wall Street Analysts Forecast Growth

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

Spire Global Trading Up 10.0%

The company’s 50-day simple moving average is $18.26 and its 200-day simple moving average is $12.67. The stock has a market capitalization of $810.78 million, a price-to-earnings ratio of 13.31 and a beta of 2.48.

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

Insider Transactions at Spire Global

In other Spire Global news, CFO Alison K. Engel sold 12,702 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total value of $242,354.16. Following the completion of the transaction, the chief financial officer directly owned 265,838 shares in the company, valued at approximately $5,072,189.04. This represents a 4.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total transaction of $469,961.08. Following the completion of the transaction, the chief executive officer owned 963,670 shares of the company’s stock, 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. In the last 90 days, insiders sold 58,299 shares of company stock worth $1,091,038. 13.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spire Global

Large investors have recently modified their holdings of the company. Osaic Holdings Inc. acquired a new stake in shares of Spire Global during the second quarter worth $25,000. Russell Investments Group Ltd. acquired a new stake in shares of Spire Global during the third quarter worth $25,000. BNP Paribas Financial Markets increased its position in shares of 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 during the period. Tower Research Capital LLC TRC increased its position in shares of Spire Global by 71.2% during 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 period. Finally, Leonteq Securities AG acquired a new stake in shares of Spire Global during the fourth quarter worth $44,000. 19.97% of the stock is currently owned by institutional investors and hedge funds.

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.