Spire Global (NYSE:SPIR) Posts Earnings Results, Misses Expectations By $0.54 EPS

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

Spire Global Trading Down 7.7 %

Shares of NYSE:SPIR traded down $0.88 during trading on Monday, hitting $10.53. 434,708 shares of the company’s stock were exchanged, compared to its average volume of 700,459. The firm has a 50-day moving average price of $15.11 and a two-hundred day moving average price of $12.37. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43. The firm has a market cap of $256.07 million, a P/E ratio of -3.03 and a beta of 2.27.

Analysts Set New Price Targets

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

Insider Buying and Selling at Spire Global

In other Spire Global news, CAO Boyd C. Johnson sold 11,304 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $127,396.08. Following the transaction, the chief accounting officer now owns 300,304 shares of the company’s stock, valued at approximately $3,384,426.08. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Peter Platzer sold 51,346 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $11.27, for a total value of $578,669.42. Following the transaction, the chairman now owns 1,840,357 shares of the company’s stock, valued at $20,740,823.39. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,857 shares of company stock valued at $1,069,038. 17.11% of the stock is currently owned by insiders.

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.