Spruce Power (NYSE:SPRU) Trading Down 0.3% – Time to Sell?

Spruce Power Holding Co. (NYSE:SPRU)’s share price dropped 0.3% during trading on Tuesday . The company traded as low as $3.05 and last traded at $3.09. Approximately 29,153 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 55,663 shares. The stock had previously closed at $3.10.

Spruce Power Stock Down 0.3 %

The company has a market capitalization of $57.48 million, a price-to-earnings ratio of -0.61 and a beta of 1.15. The stock’s fifty day simple moving average is $2.66 and its two-hundred day simple moving average is $2.88. The company has a debt-to-equity ratio of 3.81, a current ratio of 2.75 and a quick ratio of 2.75.

Insider Activity

In other Spruce Power news, Director John P. Miller purchased 20,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were bought 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 in the company, valued at approximately $211,153.66. This represents a 33.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 29,000 shares of company stock valued at $76,240. 9.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Spruce Power

A hedge fund recently raised its stake in Spruce Power stock. Clayton Partners LLC grew its holdings in shares of Spruce Power Holding Co. (NYSE:SPRU) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,318 shares of the company’s stock after purchasing an additional 54,918 shares during the period. Spruce Power makes up 1.3% of Clayton Partners LLC’s portfolio, making the stock its 29th biggest holding. Clayton Partners LLC owned 2.38% of Spruce Power worth $1,600,000 as of its most recent SEC filing. 20.76% of the stock is owned by hedge funds and other institutional investors.

About Spruce Power

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.