Spire Global (NYSE:SPIR) Shares Down 12.1% – Here’s What Happened

Spire Global, Inc. (NYSE:SPIR)’s share price traded down 12.1% during trading on Thursday . The stock traded as low as $16.11 and last traded at $16.0850. 707,217 shares traded hands during trading, a decline of 42% from the average session volume of 1,215,309 shares. The stock had previously closed at $18.30.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $19.00 price objective (up from $14.00) on shares of Spire Global in a research report on Friday, January 23rd. Canaccord Genuity Group set a $22.00 price target on Spire Global and gave the stock a “buy” rating in a research report on Friday, April 10th. Wall Street Zen raised Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings raised Spire Global from a “sell (d+)” rating to a “hold (c)” rating in a research report on Friday, March 20th. Finally, Stifel Nicolaus lifted their price target on Spire Global from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Spire Global presently has an average rating of “Moderate Buy” and an average target price of $15.17.

Spire Global Trading Up 14.5%

The stock has a 50 day simple moving average of $14.41 and a 200-day simple moving average of $11.28. The firm has a market capitalization of $619.57 million, a P/E ratio of 11.70 and a beta of 2.42.

Insider Buying and Selling

In related news, COO Perez Celia Pelez sold 19,134 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $8.53, for a total transaction of $163,213.02. Following the completion of the transaction, the chief operating officer directly owned 267,776 shares in the company, valued at approximately $2,284,129.28. The trade was a 6.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Theresa Condor sold 41,712 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $8.53, for a total value of $355,803.36. Following the transaction, the chief executive officer owned 1,116,581 shares of the company’s stock, valued at approximately $9,524,435.93. This trade represents a 3.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 138,033 shares of company stock valued at $1,219,760. Insiders own 13.04% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. ARS Investment Partners LLC grew its stake in shares of Spire Global by 2.6% during the 1st quarter. ARS Investment Partners LLC now owns 31,497 shares of the company’s stock valued at $396,000 after acquiring an additional 785 shares during the period. Atlantic Private Wealth LLC lifted its holdings in Spire Global by 50.0% in the 3rd quarter. Atlantic Private Wealth LLC now owns 3,000 shares of the company’s stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Spire Global by 84.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock worth $33,000 after acquiring an additional 1,260 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Spire Global by 12.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,025 shares of the company’s stock worth $179,000 after acquiring an additional 1,695 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Spire Global by 71.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company’s stock worth $49,000 after acquiring an additional 1,699 shares in the last quarter. 19.97% of the stock is currently owned by institutional investors.

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.