Spruce Power (NYSE:SPRU) Shares Down 0.3% – Here’s What Happened

Shares of Spruce Power Holding Co. (NYSE:SPRU) fell 0.3% during trading on Tuesday . The company traded as low as $3.05 and last traded at $3.09. 29,153 shares were traded during mid-day trading, a decline of 48% from the average session volume of 55,663 shares. The stock had previously closed at $3.10.

Spruce Power Price Performance

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

Insiders Place Their Bets

In other Spruce Power news, Director John P. Miller purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were acquired at an average cost of $2.62 per share, for a total transaction of $52,400.00. Following the transaction, the director now directly owns 80,593 shares in the company, valued at approximately $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 SEC, which is available through this link. Insiders acquired a total of 29,000 shares of company stock worth $76,240 over the last quarter. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Spruce Power

A hedge fund recently raised its stake in Spruce Power stock. Geode Capital Management LLC boosted 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 filing with the Securities & Exchange Commission. The fund owned 155,200 shares of the company’s stock after acquiring 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.

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.