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

Spire Global (NYSE:SPIR - Get Free Report) released its quarterly earnings data on Wednesday. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.54), Zacks reports. The company had revenue of $28.57 million for the quarter, compared to analyst estimates of $30.17 million.

Spire Global Stock Performance

Shares of SPIR traded up $0.15 during mid-day trading on Friday, reaching $10.50. The company had a trading volume of 682,436 shares, compared to its average volume of 713,344. The company's 50 day simple moving average is $14.74 and its 200 day simple moving average is $12.42. Spire Global has a 1-year low of $6.26 and a 1-year high of $21.43. The company has a market capitalization of $270.19 million, a price-to-earnings ratio of -3.02 and a beta of 2.34.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SPIR shares. Alliance Global Partners lifted their price objective on shares of Spire Global from $17.00 to $24.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Robert W. Baird lifted their price target on shares of Spire Global from $11.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday. Craig Hallum raised shares of Spire Global from a "hold" rating to a "buy" rating and lifted their price target for the company from $8.00 to $20.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price target on shares of Spire Global from $11.50 to $15.00 and gave the company a "buy" rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Spire Global currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.40.

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Insider Activity

In other news, Chairman Peter Platzer sold 145,600 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $10.38, for a total value of $1,511,328.00. Following the sale, the chairman now directly owns 1,694,757 shares in the company, valued at approximately $17,591,577.66. This trade represents a 7.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Theresa Condor sold 17,979 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $11.27, for a total transaction of $202,623.33. Following the completion of the transaction, the chief executive officer now owns 359,173 shares of the company's stock, valued at approximately $4,047,879.71. This trade represents a 4.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 240,457 shares of company stock worth $2,580,366. Corporate insiders own 17.11% 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.