Spire Global (NYSE:SPIR) Sees Large Volume Increase

Shares of Spire Global, Inc. (NYSE:SPIR) saw an uptick in trading volume on Friday . 132,196 shares traded hands during trading, an increase of 8% from the previous session’s volume of 122,347 shares.The stock last traded at $5.92 and had previously closed at $5.26.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SPIR. Raymond James decreased their target price on Spire Global from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday. Robert W. Baird decreased their target price on Spire Global from $32.00 to $20.00 in a research report on Thursday, May 11th.

Spire Global Price Performance

The stock has a fifty day moving average price of $5.00 and a 200-day moving average price of $5.67. The firm has a market capitalization of $906.70 million, a PE ratio of -10.75 and a beta of 1.18. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.42 and a current ratio of 2.42.

Spire Global (NYSE:SPIR) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.24. Spire Global had a negative return on equity of 62.56% and a negative net margin of 78.42%. The business had revenue of $26.49 million for the quarter, compared to the consensus estimate of $24.57 million. Sell-side analysts forecast that Spire Global, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Platzer sold 19,930 shares of the business’s stock in a transaction on Sunday, August 20th. The stock was sold at an average price of $4.80, for a total transaction of $95,664.00. Following the transaction, the chief executive officer now directly owns 1,490,104 shares in the company, valued at approximately $7,152,499.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, COO Theresa Condor sold 8,931 shares of the business’s stock in a transaction on Sunday, August 20th. The stock was sold at an average price of $4.80, for a total transaction of $42,868.80. Following the transaction, the chief operating officer now directly owns 246,840 shares in the company, valued at approximately $1,184,832. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Peter Platzer sold 19,930 shares of the business’s stock in a transaction dated Sunday, August 20th. The shares were sold at an average price of $4.80, for a total value of $95,664.00. Following the sale, the chief executive officer now owns 1,490,104 shares in the company, valued at approximately $7,152,499.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,312 shares of company stock worth $169,498 in the last ninety days. 20.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPIR. LA Financiere DE L Echiquier increased its holdings in shares of Spire Global by 9.2% in the fourth quarter. LA Financiere DE L Echiquier now owns 559,100 shares of the company’s stock valued at $537,000 after purchasing an additional 47,000 shares during the period. True Capital Management acquired a new position in shares of Spire Global in the fourth quarter valued at about $189,000. Bank of America Corp DE increased its holdings in shares of Spire Global by 570.1% in the fourth quarter. Bank of America Corp DE now owns 136,961 shares of the company’s stock valued at $131,000 after purchasing an additional 116,521 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Spire Global by 69.5% in the fourth quarter. JPMorgan Chase & Co. now owns 115,852 shares of the company’s stock valued at $111,000 after purchasing an additional 47,505 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Spire Global by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,044,485 shares of the company’s stock valued at $1,962,000 after purchasing an additional 13,585 shares during the period. 22.12% of the stock is owned by institutional investors and hedge funds.

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.