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

Spire Global (OTCMKTS:SPIRGet Rating) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of -$0.43–$0.39 for the period, compared to the consensus EPS 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.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Spire Global from a hold rating to a sell rating in a research note on Tuesday, May 17th. CJS Securities initiated coverage on shares of Spire Global in a research report on Monday, March 28th. They issued an outperform rating and a $6.00 target price for the company. Raymond James initiated coverage on 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 assumed coverage on Spire Global in a research report on Thursday, March 3rd. They issued a buy rating and a $6.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Spire Global currently has a consensus rating of Hold and a consensus price target of $4.86.

OTCMKTS SPIR opened at $1.70 on Wednesday. Spire Global has a 12 month low of $1.25 and a 12 month high of $19.50. The company’s 50 day simple moving average is $1.69 and its 200 day simple moving average is $2.52.

Spire Global (OTCMKTS:SPIRGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The firm had revenue of $18.07 million for the quarter, compared to analyst estimates of $17.02 million.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Spire Global by 136.7% in the 1st quarter. Vanguard Group Inc. now owns 4,812,174 shares of the technology company’s stock worth $10,106,000 after acquiring an additional 2,778,876 shares during the last quarter. Renaissance Technologies LLC increased its stake in Spire Global by 500.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,096,198 shares of the technology company’s stock worth $2,302,000 after purchasing an additional 913,698 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Spire Global during the fourth quarter valued at about $3,004,000. Penserra Capital Management LLC boosted its holdings in shares of Spire Global by 6,063.2% in the fourth quarter. Penserra Capital Management LLC now owns 393,521 shares of the technology company’s stock worth $1,329,000 after buying an additional 387,136 shares during the period. Finally, State Street Corp increased its position in shares of Spire Global by 398.5% in the first quarter. State Street Corp now owns 415,711 shares of the technology company’s stock worth $873,000 after acquiring an additional 332,315 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors.

About Spire Global (Get Rating)

Spire Global, Inc develops a hardware and intelligent analytics platform that tracks the oceans, skies, and weather. It serves maritime, weather, aviation, space services, earth intelligence, and federal industries. Spire Global, Inc has a strategic partnership with TAC Index Limited. Spire Global, Inc was formerly known as Nanosatisfi, Inc and changed its name to Spire Global, Inc in July 2014.

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

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