Spire Global (NYSE:SPIR) Issues Quarterly Earnings Results

Spire Global (NYSE:SPIR) announced its quarterly earnings results on Monday. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.54), Zacks reports. The business had revenue of $28.57 million during the quarter, compared to the consensus estimate of $30.17 million.

Spire Global Trading Up 1.2 %

Shares of Spire Global stock opened at $10.65 on Wednesday. The firm has a market capitalization of $258.87 million, a PE ratio of -3.06 and a beta of 2.27. Spire Global has a twelve month low of $6.26 and a twelve month high of $21.43. The firm’s 50-day moving average price is $14.98 and its 200 day moving average price is $12.42.

Insider Activity at Spire Global

In other Spire Global news, CFO Leonardo Basola sold 14,228 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total value of $160,349.56. Following the transaction, the chief financial officer now directly owns 222,251 shares of the company’s stock, valued at $2,504,768.77. This trade represents a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Peter Platzer sold 51,346 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $11.27, for a total transaction of $578,669.42. Following the completion of the transaction, the chairman now directly owns 1,840,357 shares in the company, valued at $20,740,823.39. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,857 shares of company stock valued at $1,069,038. 17.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SPIR. Robert W. Baird raised their target price on Spire Global from $6.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Alliance Global Partners raised their target price on Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group raised their target price on Spire Global from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Craig Hallum upgraded Spire Global from a “hold” rating to a “buy” rating and raised their target price for the company from $8.00 to $20.00 in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.80.

Spire Global Company Profile

Spire Global, Inc provides subscription-based data, insights, predictive analytics, and related project-based services worldwide. The company offers satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; data, insights, and predictive analytics for highly accurate ship monitoring, real-time and near real-time vessel updates, port operations, ship safety and route optimization; and space-based data, AI-powered insights, and predictive weather analytics for accurate weather forecasting.