Spire Global (NYSE:SPIR) Reaches New 12-Month High – Here’s Why

Spire Global, Inc. (NYSE:SPIR) reached a new 52-week high during trading on Tuesday . The company traded as high as $25.12 and last traded at $24.60, with a volume of 1053050 shares traded. The stock had previously closed at $21.16.

Analysts Set New Price Targets

SPIR has been the topic of a number of research analyst reports. Weiss Ratings lowered Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Spire Global from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Alliance Global Partners restated a “neutral” rating on shares of Spire Global in a report on Thursday, May 14th. Canaccord Genuity Group set a $22.50 price objective on shares of Spire Global and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus set a $22.00 price objective on shares of Spire Global and gave the company 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $16.30.

Spire Global Price Performance

The firm has a market cap of $932.76 million, a P/E ratio of 15.35 and a beta of 2.42. The stock’s 50-day moving average price is $17.28 and its 200 day moving average price is $12.20.

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 the consensus estimate of ($0.38) by $0.01. The business had revenue of $13.92 million during the quarter, compared to analysts’ expectations of $15.08 million. Spire Global had a net margin of 77.12% and a negative return on equity of 34.05%. As a group, analysts forecast that Spire Global, Inc. will post -1.39 EPS for the current fiscal year.

Insider Transactions at Spire Global

In related news, CFO Alison K. Engel sold 12,702 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 transaction of $242,354.16. Following the transaction, the chief financial officer directly owned 265,838 shares of the company’s stock, valued at approximately $5,072,189.04. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 company’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 $59,250.49. Following the transaction, the chief technology officer directly 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 58,299 shares of company stock worth $1,091,038. 13.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spire Global

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings 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. increased its stake in shares of Spire Global by 78.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 19,119 shares of the company’s stock worth $228,000 after acquiring an additional 8,395 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Spire Global by 22.3% during the second quarter. Rhumbline Advisers now owns 39,240 shares of the company’s stock valued at $467,000 after buying an additional 7,165 shares during the last quarter. Invesco Ltd. grew its position 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 purchasing an additional 2,062 shares during the period. Finally, Marshall Wace LLP raised 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 valued at $3,206,000 after buying an additional 98,925 shares during the last quarter. 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.