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

Spire Global, Inc. (NYSE:SPIR) gapped down before the market opened on Thursday . The stock had previously closed at $20.50, but opened at $17.68. Spire Global shares last traded at $17.9080, with a volume of 3,898,823 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Alliance Global Partners lowered Spire Global from a “buy” rating to a “neutral” rating and lowered their price target for the company from $17.00 to $9.00 in a research note on Tuesday, December 23rd. Canaccord Genuity Group boosted their price target on Spire Global from $10.50 to $14.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Stifel Nicolaus increased their price target on Spire Global from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Wall Street Zen lowered Spire Global from a “hold” rating to a “strong sell” rating in a research report on Sunday, December 21st. Finally, Weiss Ratings raised Spire Global from a “sell (d+)” rating to a “hold (c)” rating in a research note on Friday, March 20th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.33.

Spire Global Stock Down 11.3%

The firm has a market cap of $609.03 million, a P/E ratio of 11.43 and a beta of 2.23. The business has a fifty day moving average of $11.20 and a 200 day moving average of $10.49.

Insider Transactions at Spire Global

In other news, COO Perez Celia Pelez sold 19,134 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $8.53, for a total transaction of $163,213.02. Following the completion of the sale, the chief operating officer owned 267,776 shares in the company, valued at $2,284,129.28. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Peter Platzer sold 58,428 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $8.53, for a total value of $498,390.84. Following the sale, the chairman owned 1,693,603 shares of the company’s stock, valued at approximately $14,446,433.59. This represents a 3.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 122,276 shares of company stock worth $1,056,013 over the last quarter. Company insiders own 14.68% of the company’s stock.

Institutional Investors Weigh In On Spire Global

A number of institutional investors have recently made changes to their positions in the company. AWM Investment Company Inc. boosted its stake in shares of Spire Global by 1,044.0% in the second quarter. AWM Investment Company Inc. now owns 266,545 shares of the company’s stock valued at $3,172,000 after buying an additional 243,246 shares during the period. Auxano Advisors LLC increased its holdings in shares of Spire Global by 12.1% during the fourth quarter. Auxano Advisors LLC now owns 29,150 shares of the company’s stock worth $219,000 after buying an additional 3,150 shares in the last quarter. DNB Asset Management AS acquired a new position in shares of Spire Global during the fourth quarter worth $933,000. tru Independence LLC acquired a new position in shares of Spire Global during the fourth quarter worth $79,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Spire Global by 77.2% during the third quarter. JPMorgan Chase & Co. now owns 33,877 shares of the company’s stock worth $372,000 after buying an additional 14,758 shares in the last quarter. 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.