Spire Global (NYSE:SPIR) Coverage Initiated at Alliance Global Partners

Equities researchers at Alliance Global Partners began coverage on shares of Spire Global (NYSE:SPIR) in a note issued to investors on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Alliance Global Partners’ price objective points to a potential upside of 120.88% from the stock’s previous close.

Separately, Canaccord Genuity Group dropped their price target on 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 Price Performance

Shares of NYSE:SPIR opened at $9.96 on Thursday. The firm’s 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $7.93. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $242.23 million, a P/E ratio of -3.04 and a beta of 2.04. Spire Global has a 1-year low of $2.80 and a 1-year high of $19.40.

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. Spire Global had a negative return on equity of 66.20% and a negative net margin of 60.51%. The business had revenue of $27.73 million during the quarter, compared to analyst estimates of $29.23 million. Research analysts expect that Spire Global will post -0.88 EPS for the current fiscal year.

Insider Activity

In other Spire Global news, CEO Peter Platzer sold 12,534 shares of Spire Global stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total value of $142,762.26. Following the sale, the chief executive officer now owns 1,462,238 shares of the company’s stock, valued at approximately $16,654,890.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Spire Global news, CEO Peter Platzer sold 12,534 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Theresa Condor sold 5,870 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $11.39, for a total value of $66,859.30. Following the completion of the sale, the chief operating officer now owns 235,141 shares of the company’s stock, valued at $2,678,255.99. The disclosure for this sale can be found here. Company insiders own 20.43% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Spire Global by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 2,116,384 shares of the company’s stock worth $1,414,000 after acquiring an additional 71,899 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Spire Global by 853.0% during 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 period. Goldman Sachs Group Inc. boosted its stake in shares of Spire Global by 1,032.0% during 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 period. Vanguard Group Inc. grew its holdings in shares of Spire Global by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 624,296 shares of the company’s stock worth $4,882,000 after purchasing an additional 24,552 shares during the last quarter. Finally, Lane Generational LLC lifted its holdings in Spire Global by 15.4% during the 4th quarter. Lane Generational LLC now owns 423,018 shares of the company’s stock valued at $3,308,000 after buying an additional 56,348 shares in the last quarter. Hedge funds and other institutional investors own 19.97% 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.