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

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

Spruce Power Trading Down 1.0 %

The company has a 50 day moving average price of $2.67 and a two-hundred day moving average price of $2.67. The firm has a market capitalization of $44.93 million, a price-to-earnings ratio of -0.48 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.

Hedge Funds Weigh In On Spruce Power

A number of hedge funds have recently made changes to their positions in SPRU. Geode Capital Management LLC boosted its position in Spruce Power by 6.2% during the third quarter. Geode Capital Management LLC now owns 155,200 shares of the company’s stock worth $441,000 after acquiring an additional 9,093 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Spruce Power during the 4th quarter worth approximately $34,000. Finally, Northern Trust Corp grew its position in shares of Spruce Power by 25.8% in the fourth 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 in 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.