Spire Global (OTCMKTS:SPIR) Issues FY 2022 Earnings Guidance

Spire Global (OTCMKTS:SPIRGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of -$0.43–$0.39 for the period, compared to the consensus earnings per share estimate of -$0.42. The company issued revenue guidance of $85.00 million-$90.00 million, compared to the consensus revenue estimate of $86.61 million.Spire Global also updated its Q2 2022 guidance to -$0.12–$0.11 EPS.

Shares of Spire Global stock traded up $0.02 on Thursday, reaching $1.43. 803,175 shares of the stock were exchanged, compared to its average volume of 1,096,048. The firm’s 50 day moving average is $1.81 and its 200-day moving average is $2.92. Spire Global has a one year low of $1.25 and a one year high of $19.50.

Spire Global (OTCMKTS:SPIRGet Rating) last posted its quarterly earnings results on Wednesday, May 11th. The technology company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.02.

A number of brokerages have recently commented on SPIR. Zacks Investment Research lowered Spire Global from a hold rating to a sell rating in a research note on Tuesday. Piper Sandler reduced their target price on shares of Spire Global from $6.50 to $4.30 and set a neutral rating on the stock in a report on Tuesday, February 1st. Bank of America downgraded shares of Spire Global from a neutral rating to an underperform rating and dropped their price target for the company from $5.05 to $1.75 in a research note on Wednesday, January 19th. They noted that the move was a valuation call. Raymond James initiated coverage on shares of Spire Global in a report on Thursday, April 21st. They set an outperform rating and a $4.00 price target on the stock. Finally, Stifel Nicolaus initiated coverage on Spire Global in a report on Thursday, March 3rd. They issued a buy rating and a $6.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $4.86.

A number of hedge funds have recently bought and sold shares of SPIR. Vident Investment Advisory LLC increased its stake in Spire Global by 33.7% during the 1st quarter. Vident Investment Advisory LLC now owns 68,072 shares of the technology company’s stock valued at $143,000 after purchasing an additional 17,172 shares in the last quarter. California State Teachers Retirement System bought a new stake in shares of Spire Global during the fourth quarter worth about $133,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Spire Global in the 4th quarter worth about $129,000. Citigroup Inc. lifted its position in Spire Global by 428.1% in the 4th quarter. Citigroup Inc. now owns 37,819 shares of the technology company’s stock valued at $128,000 after acquiring an additional 30,657 shares in the last quarter. Finally, Warren Averett Asset Management LLC bought a new position in Spire Global in the 1st quarter valued at about $108,000. 88.76% of the stock is currently owned by institutional investors and hedge funds.

About Spire Global (Get Rating)

Spire Global, Inc provides space-based data, analytics, and space services worldwide. It offers its customers with access to datasets and insights about earth from the ultimate vantage point. The company provides current and historical data, insights, and predictive analytics for accurate ship monitoring, real-time vessel updates, port operations, and ship safety and route optimization; global satellite-based aircraft tracking data to power applications, drive decision making, and improve cost efficiencies; and space-based data, artificial intelligence-powered insights, and predictive weather analytics, as well as space-as-a-service solutions.

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Earnings History and Estimates for Spire Global (OTCMKTS:SPIR)

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