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

Spire Global, Inc. (NYSE:SPIR) shares rose 9.5% during trading on Wednesday . The stock traded as high as $18.87 and last traded at $18.7740. Approximately 649,089 shares changed hands 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 Analysts Forecast Growth

A number of research firms have recently weighed in on SPIR. 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 raised Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Alliance Global Partners reissued a “neutral” rating on shares of Spire Global in a report on Thursday, May 14th. Canaccord Genuity Group set a $22.50 price target on Spire Global and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Stifel Nicolaus set a $24.00 price objective on shares of Spire Global and gave the company a “buy” rating in a report on Thursday, June 4th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

Spire Global Stock Up 6.4%

The company has a market capitalization of $706.15 million, a price-to-earnings ratio of 11.62 and a beta of 2.48. The business’s 50-day moving average is $19.04 and its 200-day moving average is $13.31.

Spire Global (NYSE:SPIR) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect that Spire Global, Inc. will post -1.35 EPS for the current year.

Insider Activity at Spire Global

In other Spire Global news, COO Perez Celia Pelez sold 4,660 shares of the firm’s 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 $88,866.20. Following the sale, the chief operating officer directly owned 263,116 shares of the company’s stock, valued at approximately $5,017,622.12. This trade represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 value of $137,070.72. Following the transaction, the chairman directly owned 1,478,568 shares of the company’s stock, valued at approximately $28,211,077.44. The trade was a 0.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last ninety days. 13.04% of the stock is currently owned by company insiders.

Institutional Trading of Spire Global

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Spire Global by 164.6% during the first quarter. Royal Bank of Canada now owns 46,728 shares of the company’s stock worth $378,000 after purchasing an additional 29,066 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Spire Global by 78.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,119 shares of the company’s stock valued at $228,000 after buying an additional 8,395 shares in the last quarter. Rhumbline Advisers lifted its stake in Spire Global by 22.3% in the 2nd quarter. Rhumbline Advisers now owns 39,240 shares of the company’s stock valued at $467,000 after buying an additional 7,165 shares in the last quarter. Invesco Ltd. boosted its holdings in Spire Global by 19.5% in the 2nd quarter. Invesco Ltd. now owns 12,623 shares of the company’s stock worth $150,000 after buying an additional 2,062 shares during the last quarter. Finally, Marshall Wace LLP boosted 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 during the last quarter. Institutional investors and hedge funds 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.