Spire Global (NYSE:SPIR) Trading 14.3% Higher – Here’s Why

Spire Global, Inc. (NYSE:SPIR)’s share price rose 14.3% during mid-day trading on Friday . The stock traded as high as $18.42 and last traded at $18.4550. Approximately 857,744 shares changed hands during trading, a decline of 29% from the average daily volume of 1,215,214 shares. The stock had previously closed at $16.14.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SPIR shares. Stifel Nicolaus boosted their price target on shares of Spire Global from $16.00 to $19.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings raised shares of Spire Global from a “sell (d+)” rating to a “hold (c)” rating in a report on Friday, March 20th. Canaccord Genuity Group set a $22.00 price objective on shares of Spire Global and gave the stock a “buy” rating in a research note on Friday, April 10th. HC Wainwright restated a “buy” rating and set a $19.00 target price (up from $14.00) on shares of Spire Global in a report on Friday, January 23rd. Finally, Wall Street Zen raised Spire Global from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.17.

Spire Global Stock Up 14.5%

The firm has a market capitalization of $619.57 million, a PE ratio of 11.70 and a beta of 2.42. The company’s 50-day simple moving average is $14.41 and its 200 day simple moving average is $11.28.

Insider Activity

In other Spire Global news, Chairman Peter Platzer sold 1,800 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $18.31, for a total value of $32,958.00. Following the completion of the sale, the chairman directly owned 1,485,752 shares in the company, valued at $27,204,119.12. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Perez Celia Pelez sold 19,134 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $8.53, for a total value of $163,213.02. Following the transaction, the chief operating officer directly owned 267,776 shares in the company, valued at approximately $2,284,129.28. The trade was a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 138,033 shares of company stock worth $1,219,760. 13.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. purchased a new stake in Spire Global in the second quarter valued at about $25,000. Russell Investments Group Ltd. purchased a new stake in shares of Spire Global during the third quarter worth about $25,000. BNP Paribas Financial Markets increased its holdings in shares of Spire Global by 84.6% during the second quarter. BNP Paribas Financial Markets now owns 2,749 shares of the company’s stock valued at $33,000 after acquiring an additional 1,260 shares in the last quarter. Atlantic Private Wealth LLC raised its position in shares of Spire Global by 50.0% in the 3rd quarter. Atlantic Private Wealth LLC now owns 3,000 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Spire Global by 71.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,086 shares of the company’s stock valued at $49,000 after purchasing an additional 1,699 shares during the last quarter. 19.97% of the stock is owned by institutional investors and hedge funds.

About Spire Global

Spire Global (NYSE: SPIR) is a space-to-cloud data and analytics company that operates a constellation of low Earth orbit nanosatellites to collect radio occultation, maritime Automatic Identification System (AIS), and aviation tracking data. By leveraging proprietary satellite hardware and ground infrastructure, Spire captures precise, near-real-time observations of Earth’s atmosphere, oceans, and surface traffic to power downstream analytics for weather forecasting, fleet optimization, and safety monitoring.

The company’s core offerings include weather and climate intelligence derived from GPS radio occultation, which enhances numerical weather prediction models; maritime domain awareness services that track vessel movements and supply chain dynamics; and aviation analytics that monitor air traffic for efficiency and security applications.