Spire Global (NYSE:SPIR) Trading Down 8.1% – Time to Sell?

Spire Global, Inc. (NYSE:SPIR)’s stock price was down 8.1% on Thursday . The company traded as low as $23.88 and last traded at $23.4150. Approximately 325,061 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,294,086 shares. The stock had previously closed at $25.48.

Analyst Ratings Changes

A number of analysts have weighed in on SPIR shares. 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. Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Weiss Ratings cut 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, Stifel Nicolaus set a $22.00 target price on Spire Global and gave the stock a “buy” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Spire Global presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.30.

Spire Global Stock Down 7.2%

The firm has a fifty day moving average price of $17.28 and a 200 day moving average price of $12.20. The company has a market cap of $914.99 million, a P/E ratio of 14.96 and a beta of 2.42.

Spire Global (NYSE:SPIR) last announced its earnings results on Wednesday, May 13th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.01. The company had revenue of $13.92 million for the quarter, compared to analysts’ expectations of $15.08 million. Spire Global had a negative return on equity of 34.05% and a net margin of 77.12%. On average, sell-side analysts anticipate that Spire Global, Inc. will post -1.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Johann Gabriel Oehme sold 3,107 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $59,250.49. Following the transaction, the chief technology officer owned 218,096 shares in the company, valued at $4,159,090.72. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Chairman Peter Platzer sold 7,184 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total value of $137,070.72. Following the completion of the transaction, the chairman owned 1,478,568 shares in the company, valued at approximately $28,211,077.44. This represents a 0.48% decrease in their position. 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. Insiders have sold 58,299 shares of company stock valued at $1,091,038 over the last 90 days. Corporate insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. bought a new position in Spire Global in the second quarter valued at about $25,000. Russell Investments Group Ltd. bought a new position in Spire Global in the third quarter valued at about $25,000. BNP Paribas Financial Markets boosted its holdings in Spire Global by 84.6% in the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $33,000 after acquiring an additional 1,260 shares during the last quarter. Atlantic Private Wealth LLC boosted its holdings in Spire Global by 50.0% in the third quarter. Atlantic Private Wealth LLC now owns 3,000 shares of the company’s stock valued at $33,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Spire Global by 71.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company’s stock valued at $49,000 after acquiring an additional 1,699 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.