Spruce Power (NYSE:SPRU) Stock Price Down 0.1% – Should You Sell?

Spruce Power Holding Corporation (NYSE:SPRU)’s stock price fell 0.1% on Monday. The stock traded as low as $1.48 and last traded at $1.5790. 58,852 shares traded hands during trading, a decline of 72% from the average session volume of 208,381 shares. The stock had previously closed at $1.58.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Spruce Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Spruce Power currently has an average rating of “Sell”.

Spruce Power Price Performance

The firm has a 50 day moving average price of $1.88 and a 200 day moving average price of $2.72. The stock has a market capitalization of $31.80 million, a PE ratio of -3.68 and a beta of 1.20. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.20.

Spruce Power (NYSE:SPRU) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.15 EPS for the quarter. Spruce Power had a negative return on equity of 5.94% and a negative net margin of 6.76%.The business had revenue of $30.35 million during the quarter.

Institutional Trading of Spruce Power

Institutional investors and hedge funds have recently modified their holdings of the company. Steel Partners Holdings L.P. raised its position in shares of Spruce Power by 5.1% during the first quarter. Steel Partners Holdings L.P. now owns 3,360,158 shares of the company’s stock valued at $13,777,000 after buying an additional 162,689 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Spruce Power by 29.6% in the 1st quarter. Renaissance Technologies LLC now owns 236,233 shares of the company’s stock valued at $969,000 after acquiring an additional 53,900 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Spruce Power during the 2nd quarter valued at about $90,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Spruce Power by 50.1% during the first quarter. Dimensional Fund Advisors LP now owns 64,390 shares of the company’s stock valued at $264,000 after purchasing an additional 21,481 shares in the last quarter. 20.76% of the stock is currently owned by institutional investors.

Spruce Power Company Profile

Spruce Power is a renewable energy company that owns and operates residential solar energy systems in the United States. The company provides homeowners with access to solar-generated electricity through long-term power purchase agreements and leases, allowing customers to use installed solar systems without purchasing the equipment outright.

Its activities include managing a portfolio of residential solar assets, overseeing system operations and maintenance, administering customer contracts, and coordinating related billing and service functions.