Spire Global (NYSE:SPIR) Posts Quarterly Earnings Results

Spire Global (NYSE:SPIR) announced its quarterly earnings data on Monday. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.54), Zacks reports.

Spire Global Stock Performance

Shares of SPIR stock traded down $0.88 during midday trading on Monday, hitting $10.53. 434,759 shares of the company were exchanged, compared to its average volume of 700,613. The firm has a market capitalization of $256.07 million, a P/E ratio of -3.03 and a beta of 2.27. Spire Global has a 52 week low of $6.26 and a 52 week high of $21.43. The firm’s 50 day moving average price is $15.11 and its two-hundred day moving average price is $12.37.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, Chairman Peter Platzer sold 51,346 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were 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 owns 1,840,357 shares of the company’s stock, valued at approximately $20,740,823.39. The trade was a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $127,396.08. Following the completion of the transaction, the chief accounting officer now owns 300,304 shares in the company, valued at $3,384,426.08. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 94,857 shares of company stock worth $1,069,038 over the last three months. Insiders own 17.11% of the company’s stock.

About Spire Global

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.