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

Spire Global (NYSE:SPIR) issued its quarterly earnings results on Monday. The company reported ($0.63) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.54), Zacks reports. The company had revenue of $28.57 million during the quarter, compared to the consensus estimate of $30.17 million.

Spire Global Stock Performance

Shares of SPIR stock opened at $10.61 on Tuesday. Spire Global has a fifty-two week low of $6.26 and a fifty-two week high of $21.43. The firm has a market capitalization of $258.04 million, a PE ratio of -3.05 and a beta of 2.27. The stock’s 50-day simple moving average is $15.05 and its 200-day simple moving average is $12.40.

Analyst Upgrades and Downgrades

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

Insider Transactions at Spire Global

In other news, 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 completion of the sale, the chairman now directly owns 1,840,357 shares of the company’s stock, valued at approximately $20,740,823.39. The trade was a 2.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Boyd C. Johnson sold 11,304 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $3,384,426.08. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 94,857 shares of company stock valued at $1,069,038. 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.