DNB Asset Management AS Acquires 57,137 Shares of Spire Global, Inc. (NYSE:SPIR)

DNB Asset Management AS boosted its holdings in Spire Global, Inc. (NYSE:SPIR) by 117.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 105,745 shares of the company’s stock after buying an additional 57,137 shares during the period. DNB Asset Management AS owned approximately 0.43% of Spire Global worth $1,145,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC bought a new position in Spire Global in the 1st quarter worth approximately $27,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Spire Global during the 1st quarter worth approximately $176,000. Jump Financial LLC acquired a new stake in shares of Spire Global during the 4th quarter worth approximately $167,000. Russell Investments Group Ltd. acquired a new stake in shares of Spire Global during the 4th quarter worth approximately $171,000. Finally, CVI Holdings LLC acquired a new stake in shares of Spire Global during the 1st quarter worth approximately $3,131,000. 19.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SPIR shares. Canaccord Genuity Group decreased their price objective on Spire Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Stifel Nicolaus decreased their price objective on Spire Global from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Craig Hallum began coverage on Spire Global in a research note on Wednesday, June 5th. They issued a “buy” rating and a $13.00 price target on the stock. Alliance Global Partners reaffirmed a “buy” rating on shares of Spire Global in a research note on Thursday, June 13th. Finally, Robert W. Baird decreased their price target on Spire Global from $20.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, May 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $16.83.

Spire Global Price Performance

Spire Global stock traded up $0.23 on Wednesday, reaching $11.28. The company’s stock had a trading volume of 26,896 shares, compared to its average volume of 434,437. The company has a debt-to-equity ratio of 1.35, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $274.31 million, a price-to-earnings ratio of -3.18 and a beta of 2.01. The business’s fifty day moving average price is $11.28 and its 200 day moving average price is $10.87. Spire Global, Inc. has a twelve month low of $3.27 and a twelve month high of $19.40.

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

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.