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

Spire Global, Inc. (NYSE:SPIR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $16.29, but opened at $17.19. Spire Global shares last traded at $16.9830, with a volume of 162,215 shares changing hands.

Analyst Upgrades and Downgrades

SPIR has been the subject of a number of research reports. Wall Street Zen upgraded Spire Global from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Weiss Ratings downgraded shares of Spire Global from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 15th. Alliance Global Partners reaffirmed 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 Spire Global and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Stifel Nicolaus set a $24.00 target price on Spire Global and gave the stock a “buy” rating in a research report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.70.

Spire Global Trading Up 4.4%

The stock has a fifty day simple moving average of $18.73 and a 200-day simple moving average of $13.81. The stock has a market cap of $658.07 million, a price-to-earnings ratio of 10.83 and a beta of 2.48.

Spire Global (NYSE:SPIR) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.37) EPS 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 during the quarter, compared to analyst estimates of $15.08 million. Sell-side analysts forecast that Spire Global, Inc. will post -1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Theresa Condor sold 24,644 shares of Spire Global stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $19.07, for a total value of $469,961.08. Following the completion of the sale, the chief executive officer directly owned 963,670 shares in the company, valued at $18,377,186.90. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, Chairman Peter Platzer sold 7,184 shares of the firm’s stock in a transaction dated 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 transaction, the chairman directly owned 1,478,568 shares in the company, valued at $28,211,077.44. This trade represents a 0.48% decrease in their position. 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. Insiders have sold a total of 55,297 shares of company stock valued at $1,052,433 over the last 90 days. Company insiders own 13.04% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lane Generational LLC grew its stake in shares of Spire Global by 40.4% during the fourth quarter. Lane Generational LLC now owns 745,217 shares of the company’s stock worth $5,589,000 after purchasing an additional 214,532 shares during the period. Stifel Financial Corp increased its stake in shares of Spire Global by 32.9% in the 4th quarter. Stifel Financial Corp now owns 524,579 shares of the company’s stock valued at $3,934,000 after acquiring an additional 129,990 shares during the last quarter. DNB Asset Management AS acquired a new stake in shares of Spire Global in the 4th quarter valued at approximately $933,000. Raymond James Financial Inc. increased its stake in Spire Global by 210.0% in the second quarter. Raymond James Financial Inc. now owns 171,956 shares of the company’s stock valued at $2,046,000 after purchasing an additional 116,488 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Spire Global in the second quarter worth $1,375,000. 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.