Spruce Power (NYSE:SPRU) Shares Down 0.8% – What’s Next?

Spruce Power Holding Co. (NYSE:SPRU) shares fell 0.8% on Tuesday . The stock traded as low as $2.52 and last traded at $2.58. 38,023 shares traded hands during trading, an increase of 4% from the average session volume of 36,710 shares. The stock had previously closed at $2.60.

Spruce Power Price Performance

The business’s 50 day simple moving average is $2.82 and its 200-day simple moving average is $2.80. The stock has a market capitalization of $48.00 million, a price-to-earnings ratio of -0.51 and a beta of 1.14. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 3.81.

Insider Buying and Selling

In related news, Director John P. Miller bought 20,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was purchased at an average price of $2.62 per share, with a total value of $52,400.00. Following the completion of the acquisition, the director now owns 80,593 shares of the company’s stock, valued at $211,153.66. The trade was a 33.01 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 29,000 shares of company stock worth $76,240. Corporate insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Spruce Power

A hedge fund recently raised its stake in Spruce Power stock. Geode Capital Management LLC grew its stake in shares of Spruce Power Holding Co. (NYSE:SPRU) by 6.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 155,200 shares of the company’s stock after buying an additional 9,093 shares during the quarter. Geode Capital Management LLC owned approximately 0.84% of Spruce Power worth $441,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.76% of the company’s stock.

Spruce Power Company Profile

Spruce Power Holding Corporation owns and operates distributed solar energy assets in the United States. The company provides subscription-based services for homeowners and businesses to own and maintain rooftop solar and battery storage. It offers its subscription-based services to approximately 75,000 customers.