Spire Global (NYSE:SPIR) Stock Price Down 10% – What’s Next?

Spire Global, Inc. (NYSE:SPIR) fell 10% during trading on Wednesday . The company traded as low as $19.13 and last traded at $19.21. 657,387 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,304,518 shares. The stock had previously closed at $21.35.

Analysts Set New Price Targets

A number of research firms have issued reports on SPIR. Stifel Nicolaus set a $24.00 target price on Spire Global and gave the company a “buy” rating in a research report on Thursday. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Alliance Global Partners reiterated a “neutral” rating on shares of Spire Global in a research report on Thursday, May 14th. Canaccord Genuity Group set a $22.50 target price on Spire Global and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings cut Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Spire Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.70.

Spire Global Stock Up 5.4%

The company has a 50 day simple moving average of $18.40 and a 200-day simple moving average of $12.76. The stock has a market capitalization of $776.87 million, a price-to-earnings ratio of 12.78 and a beta of 2.48.

Spire Global (NYSE:SPIR) last posted its quarterly earnings results 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 net margin of 77.12% and a negative return on equity of 34.05%. The business had revenue of $13.92 million during the quarter, compared to the consensus estimate of $15.08 million. As a group, sell-side analysts anticipate that Spire Global, Inc. will post -1.35 earnings per share for the current fiscal year.

Insider Transactions at Spire Global

In other Spire Global 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 completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 $242,354.16. Following the completion of the sale, the chief financial officer directly owned 265,838 shares in the company, valued at approximately $5,072,189.04. The trade was a 4.56% 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. Over the last three months, insiders have sold 58,299 shares of company stock worth $1,091,038. Company insiders own 13.04% of the company’s stock.

Hedge Funds Weigh In On Spire Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lane Generational LLC grew its stake in Spire Global by 40.4% in the fourth quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock worth $5,589,000 after purchasing an additional 214,532 shares during the period. Stifel Financial Corp boosted its position in shares of Spire Global by 32.9% during the fourth quarter. Stifel Financial Corp now owns 524,579 shares of the company’s stock valued at $3,934,000 after buying an additional 129,990 shares during the last quarter. DNB Asset Management AS purchased a new stake in shares of Spire Global during the fourth quarter valued at $933,000. Raymond James Financial Inc. lifted its holdings in Spire Global by 210.0% in the second quarter. Raymond James Financial Inc. now owns 171,956 shares of the company’s stock valued at $2,046,000 after acquiring an additional 116,488 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in Spire Global in the second quarter worth about $1,375,000. 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.