Craig-Hallum bullish on Spire Global, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Spire Global with a Buy rating and $13 price target. With a fleet of over 100 satellites in orbit, Spire Global offers the world’s highest revisit monitoring of several critical types of radio signals including Weather Indicators, Ship and Airline signals, and Geolocation Tracking, the firm notes. Craig-Hallum believes Spire’s high growth and incremental gross margins are turning the corner on profitability as the company emerges from the Space SPAC dumpster fire as a compelling, differentiable name with software-like margins, an improved balance sheet, and line of sight to free cash flow positive.