Spire Global (NYSE:SPIR) Stock Price Down 4.9% – Should You Sell?

Spire Global, Inc. (NYSE:SPIR)’s share price traded down 4.9% during mid-day trading on Thursday . The company traded as low as $18.35 and last traded at $19.0930. 208,173 shares changed hands during trading, a decline of 83% from the average session volume of 1,254,397 shares. The stock had previously closed at $20.08.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group set a $22.50 target price on shares of Spire Global and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Stifel Nicolaus set a $22.00 target price on shares of Spire Global and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $19.00 target price (up from $14.00) on shares of Spire Global in a research report on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.30.

Spire Global Price Performance

The company’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $11.89. The stock has a market cap of $820.46 million, a price-to-earnings ratio of 13.50 and a beta of 2.42.

Spire Global (NYSE:SPIR) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.37) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $15.08 million. On average, analysts forecast that Spire Global, Inc. will post -1.39 earnings per share for the current year.

Insider Activity

In other Spire Global news, CFO Alison K. Engel sold 12,702 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total transaction 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 represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Perez Celia Pelez sold 4,660 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total transaction of $88,866.20. Following the transaction, the chief operating officer owned 263,116 shares in the company, valued at approximately $5,017,622.12. The trade was a 1.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 58,299 shares of company stock valued at $1,091,038. 13.04% of the stock is currently owned by insiders.

Institutional Trading of Spire Global

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Spire Global by 27.1% in the first quarter. Bank of America Corp DE now owns 76,101 shares of the company’s stock valued at $957,000 after purchasing an additional 16,227 shares during the last quarter. Parvin Asset Management LLC raised its holdings in shares of Spire Global by 11.4% in the first quarter. Parvin Asset Management LLC now owns 11,725 shares of the company’s stock valued at $148,000 after purchasing an additional 1,200 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Spire Global by 9.9% in the first quarter. Royal Bank of Canada now owns 78,641 shares of the company’s stock valued at $989,000 after purchasing an additional 7,113 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Spire Global in the first quarter valued at about $129,000. Finally, ARS Investment Partners LLC raised its holdings in shares of Spire Global by 2.6% in the first quarter. ARS Investment Partners LLC now owns 31,497 shares of the company’s stock valued at $396,000 after purchasing an additional 785 shares during 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.