Spire Global (NYSE:SPIR) Stock Price Down 9.1% – What’s Next?

Spire Global, Inc. (NYSE:SPIR)’s share price dropped 9.1% on Tuesday . The company traded as low as $15.78 and last traded at $15.47. Approximately 528,236 shares changed hands during trading, a decline of 60% from the average daily volume of 1,305,459 shares. The stock had previously closed at $17.02.

Analysts Set New Price Targets

SPIR has been the topic of a number of research reports. 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. Stifel Nicolaus set a $24.00 price target on shares of Spire Global and gave the stock a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen upgraded shares of Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Finally, Canaccord Genuity Group set a $22.50 price target on shares of Spire Global and gave the stock a “buy” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.70.

Spire Global Stock Up 21.4%

The company has a 50-day moving average price of $18.72 and a 200-day moving average price of $13.01. The firm has a market capitalization of $769.13 million, a price-to-earnings ratio of 12.65 and a beta of 2.48.

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, beating 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 for the quarter, compared to analysts’ expectations of $15.08 million. As a group, analysts forecast that Spire Global, Inc. will post -1.35 earnings per share for the current year.

Insider Buying and Selling at Spire Global

In related news, CEO Theresa Condor sold 24,644 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.07, for a total transaction of $469,961.08. Following the completion of the sale, the chief executive officer directly owned 963,670 shares of the company’s stock, valued at $18,377,186.90. This represents a 2.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $19.08, for a total transaction of $137,070.72. Following the sale, the chairman directly owned 1,478,568 shares of the company’s stock, valued at approximately $28,211,077.44. This represents a 0.48% decrease in their ownership of the stock. 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 valued at $1,091,038. Corporate insiders own 13.04% of the company’s stock.

Institutional Trading of Spire Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPIR. Royal Bank of Canada lifted its stake in Spire Global by 164.6% during the first quarter. Royal Bank of Canada now owns 46,728 shares of the company’s stock valued at $378,000 after purchasing an additional 29,066 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Spire Global by 78.3% during the second quarter. JPMorgan Chase & Co. now owns 19,119 shares of the company’s stock worth $228,000 after purchasing an additional 8,395 shares during the period. Rhumbline Advisers raised 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 worth $467,000 after purchasing an additional 7,165 shares during the period. Invesco Ltd. raised its position in shares of Spire Global by 19.5% during the second 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 position in shares of Spire Global by 58.0% during the second quarter. Marshall Wace LLP now owns 269,401 shares of the company’s stock worth $3,206,000 after purchasing an additional 98,925 shares during the period. 19.97% of the stock is owned by institutional investors and hedge funds.

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.