Spruce Power (NYSE:SPRU) Shares Down 9.3%

Spruce Power Holding Co. (NYSE:SPRUGet Free Report) shares traded down 9.3% on Monday . The stock traded as low as $3.60 and last traded at $3.60. 78,199 shares changed hands during mid-day trading, an increase of 79% from the average session volume of 43,650 shares. The stock had previously closed at $3.97.

Spruce Power Trading Down 9.3 %

The business has a 50 day simple moving average of $3.87 and a two-hundred day simple moving average of $4.18. The company has a current ratio of 2.84, a quick ratio of 2.80 and a debt-to-equity ratio of 2.75. The company has a market cap of $65.63 million, a PE ratio of -1.00 and a beta of 1.33.

Spruce Power (NYSE:SPRUGet Free Report) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.58) earnings per share (EPS) for the quarter. Spruce Power had a negative return on equity of 7.24% and a negative net margin of 82.70%. The business had revenue of $15.70 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in Spruce Power in the second quarter valued at approximately $5,020,000. Vanguard Group Inc. raised its stake in shares of Spruce Power by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 4,783,862 shares of the company’s stock valued at $3,253,000 after acquiring an additional 86,684 shares during the period. BlackRock Inc. acquired a new position in shares of Spruce Power during the 2nd quarter valued at $1,432,000. Geode Capital Management LLC purchased a new stake in Spruce Power during the 2nd quarter worth $893,000. Finally, Renaissance Technologies LLC purchased a new stake in Spruce Power during the 2nd quarter worth $891,000. 20.76% of the stock is owned by hedge funds and other institutional investors.

Spruce Power Company Profile

(Get Free Report)

Spruce Power Holding Corporation owns and operates distributed solar energy assets in the United States. The company provides subscription-based services for homeowners and small businesses to own and maintain rooftop solar and battery storage. It offers its subscription-based services to approximately 72,000 customers.

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