Spruce Power (NYSE:SPRU) Stock Price Down 5.2% – Here’s Why

Spruce Power Holding Co. (NYSE:SPRU) dropped 5.2% during trading on Monday . The stock traded as low as $2.39 and last traded at $2.39. Approximately 64,952 shares changed hands during mid-day trading, an increase of 95% from the average daily volume of 33,283 shares. The stock had previously closed at $2.52.

Spruce Power Trading Down 5.2 %

The company has a market cap of $44.46 million, a price-to-earnings ratio of -0.47 and a beta of 1.23. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.75 and a current ratio of 2.75. The firm has a fifty day moving average price of $2.69 and a 200 day moving average price of $2.68.

Institutional Investors Weigh In On Spruce Power

Several large investors have recently made changes to their positions in SPRU. Millennium Management LLC acquired a new stake in Spruce Power during the 4th quarter valued at $34,000. Northern Trust Corp lifted its holdings in Spruce Power by 25.8% during the 4th quarter. Northern Trust Corp now owns 32,878 shares of the company’s stock valued at $98,000 after purchasing an additional 6,753 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Spruce Power by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 155,200 shares of the company’s stock valued at $441,000 after purchasing an additional 9,093 shares during the last quarter. 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.