Spire Global (NYSE:SPIR) Trading 9% Higher – Here’s What Happened

Spire Global, Inc. (NYSE:SPIR) traded up 9% on Thursday . The company traded as high as $17.78 and last traded at $17.8370. 138,071 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,299,296 shares. The stock had previously closed at $16.37.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen raised 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 price target on Spire Global and gave the company a “buy” rating in a research report on Thursday, May 14th. Stifel Nicolaus set a $24.00 price objective on Spire Global and gave the stock a “buy” rating in a research note on Thursday, June 4th. Alliance Global Partners restated a “neutral” rating on shares of Spire Global in a research note on Thursday, May 14th. Finally, Weiss Ratings cut Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Spire Global has an average rating of “Moderate Buy” and a consensus target price of $16.70.

Spire Global Stock Up 17.4%

The company has a 50 day moving average of $18.72 and a 200 day moving average of $13.01. The firm has a market cap of $743.97 million, a price-to-earnings ratio of 12.19 and a beta of 2.48.

Spire Global (NYSE:SPIR) last announced its quarterly earnings data 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 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 analysts’ expectations of $15.08 million. As a group, equities research analysts expect that Spire Global, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Alison K. Engel sold 12,702 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $19.08, for a total transaction of $242,354.16. Following the completion of the transaction, the chief financial officer directly owned 265,838 shares of the company’s stock, 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 document filed 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, CTO Johann Gabriel Oehme sold 3,107 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $59,250.49. Following the completion of the transaction, the chief technology officer directly owned 218,096 shares of the company’s stock, valued at $4,159,090.72. This trade represents a 1.40% 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. Insiders have sold a total of 58,299 shares of company stock valued at $1,091,038 over the last three months. Company insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lane Generational LLC grew its holdings in Spire Global by 40.4% in the 4th quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock worth $5,589,000 after buying an additional 214,532 shares in the last quarter. State Street Corp grew its holdings in Spire Global by 1.4% in the 4th quarter. State Street Corp now owns 528,164 shares of the company’s stock worth $3,961,000 after buying an additional 7,253 shares in the last quarter. Stifel Financial Corp grew its holdings in Spire Global by 32.9% in the 4th quarter. Stifel Financial Corp now owns 524,579 shares of the company’s stock worth $3,934,000 after buying an additional 129,990 shares in the last quarter. AWM Investment Company Inc. grew its holdings in Spire Global by 25.7% in the 4th quarter. AWM Investment Company Inc. now owns 418,287 shares of the company’s stock worth $3,137,000 after buying an additional 85,492 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in Spire Global by 58.0% in the 2nd quarter. Marshall Wace LLP now owns 269,401 shares of the company’s stock worth $3,206,000 after buying an additional 98,925 shares in the last quarter. 19.97% of the stock is owned by institutional investors.

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.