Spruce Power (NYSE:SPRU) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Spruce Power (NYSE:SPRU) to a hold rating in a research report released on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Spruce Power in a research report on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Spruce Power Stock Performance

SPRU opened at $2.80 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.76. The company has a market cap of $49.92 million, a price-to-earnings ratio of -0.67 and a beta of 1.73. Spruce Power has a 52-week low of $1.13 and a 52-week high of $3.41. The firm’s fifty day simple moving average is $1.96 and its two-hundred day simple moving average is $1.86.

Spruce Power (NYSE:SPRU) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.17) earnings per share (EPS) for the quarter. The company had revenue of $33.24 million for the quarter. Spruce Power had a negative net margin of 78.82% and a negative return on equity of 35.22%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Clayton Partners LLC boosted its position in shares of Spruce Power by 4.6% during the 1st quarter. Clayton Partners LLC now owns 463,335 shares of the company’s stock valued at $1,117,000 after acquiring an additional 20,264 shares during the last quarter. Jane Street Group LLC purchased a new position in Spruce Power in the 2nd quarter worth approximately $42,000. Finally, XTX Topco Ltd purchased a new position in Spruce Power in the 2nd quarter worth approximately $32,000. 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.