Spire Global (NYSE:SPIR) Shares Up 9% – Time to Buy?

Spire Global, Inc. (NYSE:SPIR)’s stock price shot up 9% on Thursday . The company traded as high as $17.78 and last traded at $17.8370. 138,071 shares changed hands during trading, a decline of 89% from the average session volume of 1,299,296 shares. The stock had previously closed at $16.37.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPIR. Stifel Nicolaus set a $24.00 price objective on shares of Spire Global and gave the company a “buy” rating in a research note on Thursday, June 4th. Canaccord Genuity Group set a $22.50 price objective on shares of Spire Global and gave the company a “buy” rating in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of Spire Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Alliance Global Partners restated a “neutral” rating on shares of Spire Global in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered shares of Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a research note 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.70.

Spire Global Price Performance

The business’s 50 day moving average price is $18.96 and its 200 day moving average price is $13.13. The stock has a market capitalization of $707.08 million, a P/E ratio of 11.63 and a beta of 2.48.

Spire Global (NYSE:SPIR) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The firm had revenue of $13.92 million during the quarter, compared to analyst estimates 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 -1.35 earnings per share for the current fiscal year.

Insider Activity at Spire Global

In related news, Chairman Peter Platzer sold 7,184 shares of the business’s 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 completion of the sale, the chairman directly owned 1,478,568 shares in the company, valued at approximately $28,211,077.44. The trade was a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 business’s 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 $59,250.49. Following the sale, the chief technology officer owned 218,096 shares of the company’s stock, valued at $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. Insiders sold a total of 58,299 shares of company stock valued at $1,091,038 in the last three months. Corporate insiders own 13.04% of the company’s stock.

Institutional Trading of Spire Global

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its position in Spire Global by 27.1% during the first quarter. Bank of America Corp DE now owns 76,101 shares of the company’s stock valued at $957,000 after buying an additional 16,227 shares during the period. Parvin Asset Management LLC grew its position in Spire Global by 11.4% during the first quarter. Parvin Asset Management LLC now owns 11,725 shares of the company’s stock valued at $148,000 after buying an additional 1,200 shares during the period. Royal Bank of Canada grew its position in Spire Global by 9.9% during the first quarter. Royal Bank of Canada now owns 78,641 shares of the company’s stock valued at $989,000 after buying an additional 7,113 shares during the period. Granite Investment Partners LLC bought a new stake in Spire Global during the first quarter valued at approximately $129,000. Finally, ARS Investment Partners LLC grew its position in Spire Global by 2.6% during the first quarter. ARS Investment Partners LLC now owns 31,497 shares of the company’s stock valued at $396,000 after buying an additional 785 shares during the period. 19.97% of the stock is currently owned by institutional investors.

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.