Spruce Power (NYSE:SPRU) Trading 5.7% Higher – Here’s Why

Spruce Power Holding Co. (NYSE:SPRU)’s stock price traded up 5.7% during mid-day trading on Wednesday . The stock traded as high as $2.44 and last traded at $2.43. 104,095 shares changed hands during trading, an increase of 151% from the average session volume of 41,528 shares. The stock had previously closed at $2.30.

Spruce Power Trading Up 5.7 %

The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 3.81. The business has a 50-day moving average of $2.55 and a 200-day moving average of $3.02. The stock has a market cap of $45.20 million, a price-to-earnings ratio of -0.48 and a beta of 1.21.

Institutional Investors Weigh In On Spruce Power

Several large investors have recently made changes to their positions in SPRU. Geode Capital Management LLC raised its position in Spruce Power by 6.2% during the third 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. Clayton Partners LLC increased its stake in shares of Spruce Power by 14.3% during the 2nd quarter. Clayton Partners LLC now owns 438,318 shares of the company’s stock worth $1,600,000 after purchasing an additional 54,918 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Spruce Power by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 651,207 shares of the company’s stock valued at $2,585,000 after purchasing an additional 45,024 shares in the last quarter. Institutional investors own 20.76% of the company’s stock.

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.