Spruce Power (NYSE:SPRU) Trading Down 0.3% – Time to Sell?

Spruce Power Holding Co. (NYSE:SPRU) was down 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 Trading Up 1.9 %

The stock’s fifty day simple moving average is $2.67 and its two-hundred day simple moving average is $2.88. The firm has a market cap of $58.60 million, a PE ratio of -0.62 and a beta of 1.15. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 3.81.

Insider Buying and Selling

In other Spruce Power news, Director John P. Miller purchased 20,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were purchased at an average cost of $2.62 per share, with a total value of $52,400.00. Following the completion of the acquisition, the director now directly owns 80,593 shares in the company, valued at $211,153.66. This trade represents a 33.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 29,000 shares of company stock worth $76,240 in the last quarter. Corporate insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Spruce Power

An institutional investor recently raised its position in Spruce Power stock. Clayton Partners LLC raised its holdings in shares of Spruce Power Holding Co. (NYSE:SPRU) by 14.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 438,318 shares of the company’s stock after buying an additional 54,918 shares during the period. Spruce Power comprises 1.3% of Clayton Partners LLC’s portfolio, making the stock its 29th largest holding. Clayton Partners LLC owned 2.38% of Spruce Power worth $1,600,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.