Spire Global (NYSE:SPIR) Trading Down 6.4%

Spire Global, Inc. (NYSE:SPIR)’s stock price was down 6.4% during trading on Friday . The company traded as low as $10.84 and last traded at $10.90. Approximately 338,815 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 460,267 shares. The stock had previously closed at $11.65.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reduced their price objective on shares of Spire Global from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, March 22nd.

Spire Global Stock Down 6.4 %

The company has a market cap of $241.22 million, a P/E ratio of -3.32 and a beta of 2.04. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.62. The business’s 50 day moving average is $11.67 and its 200 day moving average is $7.75.

Spire Global (NYSE:SPIR) last issued its quarterly earnings results on Wednesday, March 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.25. The business had revenue of $27.73 million for the quarter, compared to the consensus estimate of $29.23 million. Spire Global had a negative return on equity of 66.20% and a negative net margin of 60.51%. As a group, equities analysts anticipate that Spire Global, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Spire Global

In other news, COO Theresa Condor sold 5,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $66,859.30. Following the sale, the chief operating officer now directly owns 235,141 shares of the company’s stock, valued at $2,678,255.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Theresa Condor sold 5,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $66,859.30. Following the sale, the chief operating officer now directly owns 235,141 shares of the company’s stock, valued at $2,678,255.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Platzer sold 12,534 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the sale, the chief executive officer now directly owns 1,462,238 shares in the company, valued at $16,654,890.82. The disclosure for this sale can be found here. Insiders own 20.43% of the company’s stock.

Institutional Investors Weigh In On Spire Global

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in Spire Global by 3.5% in the first quarter. Geode Capital Management LLC now owns 2,116,384 shares of the company’s stock valued at $1,414,000 after purchasing an additional 71,899 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Spire Global by 853.0% in the second quarter. Renaissance Technologies LLC now owns 1,115,947 shares of the company’s stock valued at $575,000 after purchasing an additional 998,847 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Spire Global by 1,032.0% in the second quarter. Goldman Sachs Group Inc. now owns 795,630 shares of the company’s stock valued at $410,000 after purchasing an additional 725,343 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Spire Global by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 624,296 shares of the company’s stock valued at $4,882,000 after purchasing an additional 24,552 shares during the last quarter. Finally, Lane Generational LLC boosted its stake in shares of Spire Global by 15.4% during the 4th quarter. Lane Generational LLC now owns 423,018 shares of the company’s stock worth $3,308,000 after acquiring an additional 56,348 shares in the last quarter. 19.97% of the stock is owned by hedge funds and other institutional investors.

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.