Spire Global downgraded to Market Perform from Outperform at Raymond James

Raymond James analyst Ric Prentiss downgraded Spire Global to Market Perform from Outperform without a price target following the announcement that the company will need to restate historical financials after a review of the accounting policies surrounding the timing of booking Space Services business. In addition, Spire was informed by the NYSE that it is not in compliance with listing standards, the analyst tells investors in a research note. The firm believes this will be a continued overhang, particularly with investors not having the correct go-forward financials in hand, and finds it hard for the shares to outperform in that period.