Spruce Power (NYSE:SPRU) Shares Down 0.8% – Here’s Why

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

Spruce Power Stock Down 0.8 %

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. The stock has a 50 day moving average price of $2.82 and a 200 day moving average price of $2.80.

Insider Buying and Selling

In related news, Director John P. Miller acquired 20,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was bought at an average cost of $2.62 per share, for a total transaction of $52,400.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired a total of 29,000 shares of company stock worth $76,240 in the last ninety days. Company insiders own 9.60% of the company’s stock.

Institutional Trading of Spruce Power

An institutional investor recently raised its position in Spruce Power stock. Geode Capital Management LLC lifted its holdings in Spruce Power Holding Co. (NYSE:SPRU) by 6.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,200 shares of the company’s stock after acquiring an additional 9,093 shares during the period. Geode Capital Management LLC owned approximately 0.84% of Spruce Power worth $441,000 as of its most recent filing with the Securities and Exchange Commission. 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.