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 research note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $22.00 price target on the stock. Alliance Global Partners’ price target suggests a potential upside of 117.07% from the company’s current price.

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

Spire Global Stock Performance

NYSE SPIR opened at $10.14 on Thursday. The firm has a market cap of $246.48 million, a price-to-earnings ratio of -3.09 and a beta of 2.04. The company has a 50 day moving average of $11.85 and a 200-day moving average of $7.88. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.62. Spire Global has a 1-year low of $2.80 and a 1-year high of $19.40.

Spire Global (NYSE:SPIR) last posted its quarterly earnings data on Wednesday, March 6th. The company reported ($0.52) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.25. The company had revenue of $27.73 million during the quarter, compared to analyst estimates of $29.23 million. Spire Global had a negative net margin of 60.51% and a negative return on equity of 66.20%. On average, equities analysts forecast that Spire Global will post -0.88 earnings per share for the current fiscal year.

Insider Activity at Spire Global

In other Spire Global news, CEO Peter Platzer sold 12,534 shares of Spire Global 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Spire Global news, CEO Peter Platzer sold 12,534 shares of Spire Global 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Theresa Condor sold 5,870 shares of Spire Global stock in a transaction on Wednesday, February 21st. The stock was 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 approximately $2,678,255.99. The disclosure for this sale can be found here. 20.43% of the stock is currently owned by company insiders.

Institutional Trading of Spire Global

A number of institutional investors have recently bought and sold shares of the business. DNB Asset Management AS boosted its position in shares of Spire Global by 5.4% during the fourth quarter. DNB Asset Management AS now owns 90,553 shares of the company’s stock worth $707,000 after purchasing an additional 4,680 shares in the last quarter. Ergoteles LLC bought a new position in shares of Spire Global during the second quarter worth $64,000. ExodusPoint Capital Management LP bought a new position in shares of Spire Global during the second quarter worth $56,000. Morgan Stanley boosted its position in shares of Spire Global by 64.3% during the fourth quarter. Morgan Stanley now owns 58,488 shares of the company’s stock worth $56,000 after purchasing an additional 22,882 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in shares of Spire Global during the third quarter worth $55,000. Institutional investors and hedge funds 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.