Spruce Power (NYSE:SPRU) Stock Price Down 0.3% – Here’s Why

Spruce Power Holding Co. (NYSE:SPRU) dropped 0.3% on Tuesday . The stock traded as low as $3.05 and last traded at $3.09. Approximately 29,153 shares changed hands during trading, a decline of 48% from the average daily volume of 55,663 shares. The stock had previously closed at $3.10.

Spruce Power Stock Up 1.9 %

The company has a debt-to-equity ratio of 3.81, a current ratio of 2.75 and a quick ratio of 2.75. The company has a 50-day moving average of $2.67 and a two-hundred day moving average of $2.88. The company has a market capitalization of $58.60 million, a PE ratio of -0.62 and a beta of 1.15.

Insider Activity at Spruce Power

In other Spruce Power news, Director John P. Miller acquired 20,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were acquired 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 approximately $211,153.66. The trade was a 33.01 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 29,000 shares of company stock worth $76,240. 9.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Spruce Power

An institutional investor recently raised its position in Spruce Power stock. Geode Capital Management LLC raised its position in shares of Spruce Power Holding Co. (NYSE:SPRU) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 (SEC). 20.76% of the stock is owned by institutional investors and hedge funds.

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.