Spire Global (NYSE:SPIR) Lowered to “Hold” at Craig Hallum

Craig Hallum downgraded shares of Spire Global (NYSE:SPIR) from a buy rating to a hold rating in a research report released on Thursday, Marketbeat Ratings reports. Craig Hallum currently has $8.00 target price on the stock, down from their prior target price of $13.00.

A number of other research firms have also recently weighed in on SPIR. Canaccord Genuity Group lowered their price target on Spire Global from $24.00 to $20.00 and set a buy rating for the company in a report on Thursday, May 16th. Stifel Nicolaus reduced their price target on shares of Spire Global from $24.00 to $20.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Alliance Global Partners restated a buy rating on shares of Spire Global in a report on Thursday, June 13th. Finally, Robert W. Baird dropped their target price on shares of Spire Global from $20.00 to $15.00 and set an outperform rating for the company in a report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Spire Global currently has a consensus rating of Moderate Buy and a consensus target price of $15.00.

Spire Global Stock Performance

Spire Global stock opened at $7.07 on Thursday. The firm has a 50 day simple moving average of $11.29 and a 200-day simple moving average of $10.98. The stock has a market cap of $171.93 million, a price-to-earnings ratio of -2.03 and a beta of 2.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.24 and a quick ratio of 2.24. Spire Global has a 1-year low of $3.27 and a 1-year high of $19.40.

Spire Global (NYSE:SPIR) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.21). The business had revenue of $25.69 million during the quarter, compared to analysts’ expectations of $28.08 million. Spire Global had a negative return on equity of 66.19% and a negative net margin of 66.72%. On average, analysts expect that Spire Global will post -1.69 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SPIR. Vanguard Group Inc. boosted its holdings in Spire Global by 23.1% in the first quarter. Vanguard Group Inc. now owns 768,343 shares of the company’s stock valued at $9,220,000 after purchasing an additional 144,047 shares during the period. Lane Generational LLC raised its position in Spire Global by 15.4% in the 4th quarter. Lane Generational LLC now owns 423,018 shares of the company’s stock valued at $3,308,000 after purchasing an additional 56,348 shares in the last quarter. NewGen Asset Management Ltd boosted its stake in shares of Spire Global by 406.3% in the 2nd quarter. NewGen Asset Management Ltd now owns 405,000 shares of the company’s stock valued at $4,390,000 after buying an additional 325,000 shares during the period. Ancora Advisors LLC grew its position in shares of Spire Global by 429.2% during the first quarter. Ancora Advisors LLC now owns 329,457 shares of the company’s stock worth $3,953,000 after buying an additional 267,197 shares in the last quarter. Finally, CVI Holdings LLC purchased a new stake in shares of Spire Global during the first quarter worth approximately $3,131,000. Institutional investors and hedge funds own 19.97% of the company’s stock.

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.