Spire (OTCMKTS:SPIR – Get Rating) updated its FY 2022 earnings guidance on Wednesday. The company provided EPS guidance of $-0.440-$-0.410 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.390. The company issued revenue guidance of $85 million-$90 million, compared to the consensus revenue estimate of $76.75 million.Spire also updated its Q1 2022 guidance to $-0.140-$-0.130 EPS.
A number of research analysts have recently commented on SPIR shares. Zacks Investment Research raised shares of Spire from a hold rating to a buy rating and set a $2.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus assumed coverage on Spire in a research note on Thursday, March 3rd. They issued a buy rating and a $6.00 target price for the company. Piper Sandler decreased their price target on shares of Spire from $6.50 to $4.30 and set a neutral rating on the stock in a research note on Tuesday, February 1st. Finally, Bank of America downgraded shares of Spire from a neutral rating to an underperform rating and reduced their price objective for the stock from $5.05 to $1.75 in a report on Wednesday, January 19th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $4.81.
Spire stock traded up $0.31 during mid-day trading on Wednesday, hitting $2.10. 3,784,705 shares of the company were exchanged, compared to its average volume of 1,232,947. The business has a fifty day moving average of $2.50 and a 200 day moving average of $5.28. Spire has a 1-year low of $1.62 and a 1-year high of $19.50.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley bought a new stake in shares of Spire during the third quarter valued at approximately $100,000. Legal & General Group Plc acquired a new position in Spire during the 4th quarter worth $30,000. JPMorgan Chase & Co. boosted its position in Spire by 13,117.0% in the 4th quarter. JPMorgan Chase & Co. now owns 13,217 shares of the technology company’s stock valued at $45,000 after buying an additional 13,117 shares during the last quarter. Virtu Financial LLC increased its stake in shares of Spire by 40.4% in the 4th quarter. Virtu Financial LLC now owns 46,139 shares of the technology company’s stock valued at $156,000 after buying an additional 13,280 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Spire 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 buying an additional 30,657 shares during the period. 88.76% of the stock is currently owned by institutional investors and hedge funds.
Spire Company Profile (Get Rating)
Spire Corporation is engaged in developing, manufacturing, and marketing engineered products and services in the areas of photovoltaic solar and biomedical. The company offers specialized equipment for the production of terrestrial photovoltaic modules from solar cells; and photovoltaic systems for grid connected application in the commercial markets.
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