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

Spruce Power Holding Co. (NYSE:SPRU) traded down 5.2% during mid-day 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 Stock Down 1.0 %

The business has a fifty day moving average of $2.67 and a 200 day moving average of $2.67. The company has a market capitalization of $44.93 million, a PE ratio of -0.48 and a beta of 1.23. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 3.81.

Institutional Investors Weigh In On Spruce Power

A number of institutional investors and hedge funds have recently bought and sold shares of SPRU. Millennium Management LLC purchased a new stake in shares of Spruce Power in the fourth quarter valued at about $34,000. Northern Trust Corp grew its holdings in 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Spruce Power by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 155,200 shares of the company’s stock valued at $441,000 after acquiring an additional 9,093 shares in the last quarter. 20.76% of the stock is owned by hedge funds and other institutional investors.

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.