Spire Global (NYSE:SPIR) Stock Price Down 7.3% – Here’s What Happened

Shares of Spire Global, Inc. (NYSE:SPIR) were down 7.3% during mid-day trading on Friday . The stock traded as low as $14.86 and last traded at $14.87. Approximately 548,290 shares traded hands during trading, a decline of 58% from the average session volume of 1,318,028 shares. The stock had previously closed at $16.04.

Wall Street Analyst Weigh In

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

Spire Global Trading Down 7.8%

The firm has a market cap of $572.17 million, a price-to-earnings ratio of 9.43 and a beta of 2.51. The firm has a 50-day moving average of $18.65 and a two-hundred day moving average of $14.37.

Spire Global (NYSE:SPIR) last released its earnings results on Wednesday, May 13th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $15.08 million. As a group, equities analysts anticipate that Spire Global, Inc. will post -1.35 EPS for the current year.

Insider Transactions at Spire Global

In other news, CEO Theresa Condor sold 24,644 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total value of $469,961.08. Following the sale, the chief executive officer owned 963,670 shares of the company’s stock, valued at approximately $18,377,186.90. This represents a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total transaction of $59,250.49. Following the completion of the transaction, the chief technology officer owned 218,096 shares in the company, valued at approximately $4,159,090.72. This trade represents a 1.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $1,052,433. 13.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Spire Global

Hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS bought a new stake in shares of Spire Global during the fourth quarter valued at approximately $933,000. Tudor Investment Corp ET AL acquired a new position in Spire Global in the third quarter valued at about $396,000. Stifel Financial Corp raised its position in shares of Spire Global by 32.9% in the 4th quarter. Stifel Financial Corp now owns 524,579 shares of the company’s stock valued at $3,934,000 after acquiring an additional 129,990 shares during the period. Marshall Wace LLP boosted its stake in Spire Global by 58.0% during the 2nd quarter. Marshall Wace LLP now owns 269,401 shares of the company’s stock worth $3,206,000 after acquiring an additional 98,925 shares during the last quarter. Finally, AWM Investment Company Inc. boosted its stake in Spire Global by 25.7% during the 4th quarter. AWM Investment Company Inc. now owns 418,287 shares of the company’s stock worth $3,137,000 after acquiring an additional 85,492 shares during the last quarter. Institutional investors 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.