Spruce Power (NYSE:SPRU) Shares Down 3.6% – What’s Next?

Spruce Power Holding Corporation (NYSE:SPRU)’s share price fell 3.6% on Monday . The stock traded as low as $5.41 and last traded at $5.5650. 92,360 shares were traded during mid-day trading, an increase of 6% from the average session volume of 86,738 shares. The stock had previously closed at $5.77.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPRU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spruce Power in a research report on Monday, December 29th. Wall Street Zen upgraded Spruce Power to a “hold” rating in a research report on Saturday, October 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Spruce Power Stock Down 3.6%

The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 3.67. The firm has a market cap of $101.12 million, a P/E ratio of -4.03 and a beta of 1.26. The stock’s 50-day simple moving average is $5.24 and its 200 day simple moving average is $3.22.

Insider Activity at Spruce Power

In related news, Director Mcbane Clara Nagy sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $5.06, for a total transaction of $202,400.00. Following the completion of the sale, the director owned 107,755 shares of the company’s stock, valued at $545,240.30. This trade represents a 27.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spruce Power

A number of hedge funds have recently added to or reduced their stakes in SPRU. XTX Topco Ltd bought a new position in shares of Spruce Power during the 2nd quarter worth approximately $32,000. Jane Street Group LLC acquired a new stake in Spruce Power in the second quarter worth $42,000. Vanguard Group Inc. grew its holdings in Spruce Power by 3.9% in the third quarter. Vanguard Group Inc. now owns 679,844 shares of the company’s stock worth $1,666,000 after purchasing an additional 25,663 shares during the period. Two Sigma Investments LP bought a new stake in Spruce Power in the third quarter valued at $119,000. Finally, Virtu Financial LLC acquired a new position in shares of Spruce Power during the third quarter valued at about $31,000. 20.76% of the stock is currently owned by institutional investors.

Spruce Power Company Profile

Spruce Power is a renewable energy company that specializes in the ownership, operation and management of distributed solar energy assets. The company partners with solar developers to acquire residential and small-commercial solar portfolios, providing long-term performance monitoring, maintenance and customer support for system owners. By focusing on turnkey asset management, Spruce Power enables homeowners and businesses to benefit from solar power without the upfront risks and responsibilities of system ownership.

Headquartered in San Francisco, California, Spruce Power was founded in 2009 and has grown through strategic acquisitions and partnerships.