Alliance Global Partners Initiates Coverage on Spire Global (NYSE:SPIR)

Equities research analysts at Alliance Global Partners initiated coverage on shares of Spire Global (NYSE:SPIR) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a “buy” rating and a $22.00 price target on the stock. Alliance Global Partners’ price target points to a potential upside of 117.07% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their price objective on shares of Spire Global from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, March 22nd.

Spire Global Price Performance

Spire Global stock opened at $10.14 on Thursday. The stock has a market cap of $246.48 million, a P/E ratio of -3.09 and a beta of 2.04. The company has a fifty day simple moving average of $11.85 and a 200-day simple moving average of $7.88. Spire Global has a 12-month low of $2.80 and a 12-month high of $19.40. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 1.62.

Spire Global (NYSE:SPIR) last released its quarterly earnings data on Wednesday, March 6th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.25. The business had revenue of $27.73 million during the quarter, compared to analysts’ expectations of $29.23 million. Spire Global had a negative net margin of 60.51% and a negative return on equity of 66.20%. Equities analysts expect that Spire Global will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Peter Platzer sold 12,534 shares of Spire Global stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the sale, the chief executive officer now directly owns 1,462,238 shares in the company, valued at approximately $16,654,890.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Spire Global news, COO Theresa Condor sold 5,870 shares of Spire Global stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total value of $66,859.30. Following the transaction, the chief operating officer now directly owns 235,141 shares in the company, valued at $2,678,255.99. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Peter Platzer sold 12,534 shares of Spire Global stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $11.39, for a total transaction of $142,762.26. Following the completion of the transaction, the chief executive officer now owns 1,462,238 shares in the company, valued at $16,654,890.82. The disclosure for this sale can be found here. 20.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Middle East FZE acquired a new position in Spire Global in the second quarter valued at $25,000. Barclays PLC boosted its holdings in shares of Spire Global by 533.3% in the fourth quarter. Barclays PLC now owns 33,583 shares of the company’s stock valued at $32,000 after acquiring an additional 28,280 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Spire Global by 48.8% in the first quarter. Deutsche Bank AG now owns 76,807 shares of the company’s stock valued at $51,000 after acquiring an additional 25,192 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Spire Global in the first quarter valued at about $53,000. Finally, Stifel Financial Corp purchased a new stake in shares of Spire Global in the third quarter valued at about $55,000. 19.97% of the stock is currently owned by institutional investors and hedge funds.

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.