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

Spire Global (NYSE:SPIR - Get Free Report) announced its earnings results on Wednesday. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.54), Zacks reports. The company had revenue of $28.57 million during the quarter, compared to analysts' expectations of $30.17 million.

Spire Global Price Performance

NYSE SPIR traded up $0.15 on Friday, hitting $10.50. 682,436 shares of the stock were exchanged, compared to its average volume of 713,344. The company's 50-day moving average price is $14.74 and its two-hundred day moving average price is $12.42. Spire Global has a 52-week low of $6.26 and a 52-week 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.

Insider Activity

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

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Analyst Ratings Changes

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

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.