Spire Global, Inc. (NYSE:SPIR) Short Interest Up 30.7% in February

Spire Global, Inc. (NYSE:SPIR) saw a large increase in short interest in February. As of February 15th, there was short interest totalling 2,510,000 shares, an increase of 30.7% from the January 31st total of 1,920,000 shares. Based on an average daily volume of 533,800 shares, the short-interest ratio is presently 4.7 days. Currently, 13.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Craig Hallum raised shares of Spire Global from a “hold” rating to a “buy” rating and lifted their price target for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Robert W. Baird boosted their price objective on Spire Global from $6.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Canaccord Genuity Group upped their target price on Spire Global from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Alliance Global Partners lifted their price target on shares of Spire Global from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.80.

Spire Global Trading Up 1.2 %

Shares of NYSE SPIR traded up $0.13 during midday trading on Tuesday, hitting $10.65. 1,239,460 shares of the company’s stock were exchanged, compared to its average volume of 713,786. The business’s fifty day moving average price is $14.98 and its two-hundred day moving average price is $12.42. The company has a market cap of $258.87 million, a price-to-earnings ratio of -3.06 and a beta of 2.27. Spire Global has a 12-month low of $6.26 and a 12-month high of $21.43.

Spire Global (NYSE:SPIR) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.54). The business had revenue of $28.57 million for the quarter, compared to analyst estimates of $30.17 million. Equities analysts expect that Spire Global will post -1.69 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Peter Platzer sold 51,346 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $578,669.42. Following the completion of the sale, the chairman now directly owns 1,840,357 shares in the company, valued at $20,740,823.39. This represents a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theresa Condor sold 17,979 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $202,623.33. Following the transaction, the chief executive officer now owns 359,173 shares of the company’s stock, valued at $4,047,879.71. This trade represents a 4.77 % 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 worth $1,069,038. Corporate insiders own 17.11% of the company’s stock.

Hedge Funds Weigh In On Spire Global

A number of institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new stake in Spire Global in the 4th quarter worth about $397,000. Two Sigma Investments LP boosted its stake in shares of Spire Global by 4.3% in the fourth quarter. Two Sigma Investments LP now owns 38,009 shares of the company’s stock worth $535,000 after acquiring an additional 1,550 shares during the period. Shay Capital LLC purchased a new stake in Spire Global during the 4th quarter valued at approximately $410,000. Numerai GP LLC purchased a new stake in Spire Global in the 4th quarter worth $234,000. Finally, Granahan Investment Management LLC bought a new position in Spire Global during the fourth quarter valued at approximately $1,774,000. Institutional investors own 19.97% of the company’s stock.

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.