Spruce Power (NYSE:SPRU) Shares Up 5.7% – Still a Buy?

Spruce Power Holding Co. (NYSE:SPRU) 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 were traded during mid-day trading, an increase of 151% from the average session volume of 41,528 shares. The stock had previously closed at $2.30.

Spruce Power Price Performance

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

Hedge Funds Weigh In On Spruce Power

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in 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 during the period. Clayton Partners LLC grew its holdings in shares of Spruce Power by 14.3% during the second quarter. Clayton Partners LLC now owns 438,318 shares of the company’s stock valued at $1,600,000 after buying an additional 54,918 shares in the last quarter. Finally, 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 buying an additional 9,093 shares during the period. Hedge funds and other 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.