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Spire (SPIR) Moves 9.0% Higher: Will This Strength Last?
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Spire Global, Inc. (SPIR - Free Report) shares soared 9% in the last trading session to close at $14.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.9% gain over the past four weeks.
Per a report published by MarketBeat, CVI Holdings bought a new stake in Spire Global during the first quarter, according to a recent 13F filing with the SEC. This might have boosted investors’ confidence in SPIR, thereby resulting in the latest uptick in its share price
This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +58.9%. Revenues are expected to be $30.82 million, up 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Spire, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SPIR going forward to see if this recent jump can turn into more strength down the road.
Spire is part of the Zacks Aerospace - Defense industry. Redwire Corporation (RDW - Free Report) , another stock in the same industry, closed the last trading session 5.3% lower at $7.66. RDW has returned 37.1% in the past month.
For Redwire Corporation, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +25% from what the company reported a year ago. Redwire Corporation currently has a Zacks Rank of #3 (Hold).
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Spire (SPIR) Moves 9.0% Higher: Will This Strength Last?
Spire Global, Inc. (SPIR - Free Report) shares soared 9% in the last trading session to close at $14.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 23.9% gain over the past four weeks.
Per a report published by MarketBeat, CVI Holdings bought a new stake in Spire Global during the first quarter, according to a recent 13F filing with the SEC. This might have boosted investors’ confidence in SPIR, thereby resulting in the latest uptick in its share price
This company is expected to post quarterly loss of $0.23 per share in its upcoming report, which represents a year-over-year change of +58.9%. Revenues are expected to be $30.82 million, up 16.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Spire, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SPIR going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Spire is part of the Zacks Aerospace - Defense industry. Redwire Corporation (RDW - Free Report) , another stock in the same industry, closed the last trading session 5.3% lower at $7.66. RDW has returned 37.1% in the past month.
For Redwire Corporation, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.12. This represents a change of +25% from what the company reported a year ago. Redwire Corporation currently has a Zacks Rank of #3 (Hold).