Spire Global (NYSE:SPIR) Trading 9.5% Higher – Time to Buy?

Shares of Spire Global, Inc. (NYSE:SPIR) shot up 9.5% on Wednesday . The company traded as high as $18.87 and last traded at $18.7740. Approximately 649,089 shares were traded during trading, a decline of 51% from the average daily volume of 1,315,081 shares. The stock had previously closed at $17.15.

Wall Street Analyst Weigh In

SPIR has been the subject of several research analyst reports. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Stifel Nicolaus set a $24.00 target price on shares of Spire Global and gave the stock a “buy” rating in a research 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 note on Friday, May 15th. Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a report on Thursday, May 14th. Finally, Canaccord Genuity Group set a $22.50 price objective on shares of Spire Global and gave the company a “buy” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.70.

Spire Global Trading Down 1.1%

The firm has a 50 day moving average of $19.16 and a two-hundred day moving average of $13.45. The stock has a market capitalization of $726.59 million, a PE ratio of 11.96 and a beta of 2.48.

Spire Global (NYSE:SPIR) last posted its earnings results on Wednesday, May 13th. The company reported ($0.37) EPS for the quarter, topping 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 company had revenue of $13.92 million for the quarter, compared to the consensus estimate of $15.08 million. Equities research analysts forecast that Spire Global, Inc. will post -1.35 EPS for the current year.

Insiders Place Their Bets

In other Spire Global news, COO Perez Celia Pelez sold 4,660 shares of Spire Global stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total transaction of $88,866.20. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Alison K. Engel sold 12,702 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total transaction of $242,354.16. Following the completion of the sale, the chief financial officer directly owned 265,838 shares in the company, valued at $5,072,189.04. This trade represents a 4.56% decrease in their position. 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. Over the last ninety days, insiders sold 55,297 shares of company stock worth $1,052,433. 13.04% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of Spire Global by 27.1% during the 1st quarter. Bank of America Corp DE now owns 76,101 shares of the company’s stock worth $957,000 after purchasing an additional 16,227 shares during the last quarter. Parvin Asset Management LLC grew its holdings in Spire Global by 11.4% during the 1st quarter. Parvin Asset Management LLC now owns 11,725 shares of the company’s stock valued at $148,000 after buying an additional 1,200 shares during the last quarter. Royal Bank of Canada grew its holdings in Spire Global by 9.9% during the 1st quarter. Royal Bank of Canada now owns 78,641 shares of the company’s stock valued at $989,000 after buying an additional 7,113 shares during the last quarter. Granite Investment Partners LLC purchased a new position in Spire Global during the first quarter worth $129,000. Finally, ARS Investment Partners LLC increased its position in Spire Global by 2.6% during the first quarter. ARS Investment Partners LLC now owns 31,497 shares of the company’s stock worth $396,000 after buying an additional 785 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

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.