Spruce Power Holding Co. (NYSE:SPRU) Stock Holdings Increased by Northern Trust Corp

Northern Trust Corp boosted its position in Spruce Power Holding Co. (NYSE:SPRU) by 25.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,878 shares of the company’s stock after buying an additional 6,753 shares during the quarter. Northern Trust Corp owned approximately 0.18% of Spruce Power worth $98,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC grew its holdings in shares of Spruce Power by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 159,386 shares of the company’s stock valued at $474,000 after purchasing an additional 4,186 shares during the last quarter. Institutional investors and hedge funds own 20.76% of the company’s stock.

Spruce Power Stock Down 0.7%

NYSE:SPRU opened at $2.01 on Wednesday. The firm has a market capitalization of $35.74 million, a PE ratio of -0.40 and a beta of 1.49. The stock has a 50 day moving average of $1.99 and a 200-day moving average of $2.43. Spruce Power Holding Co. has a 52 week low of $1.42 and a 52 week high of $3.94. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 3.81.

Spruce Power (NYSE:SPRU) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.84) earnings per share (EPS) for the quarter. The business had revenue of $23.82 million for the quarter. Spruce Power had a negative return on equity of 23.98% and a negative net margin of 121.98%.

Spruce Power declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 164.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Spruce Power to a “sell” rating in a report on Saturday.

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.