Spruce Power (NYSE:SPRU) Stock Price Down 0.3% - Here's What Happened

Spruce Power Holding Co. (NYSE:SPRU - Get Free Report) shares traded down 0.3% on Tuesday . The company traded as low as $3.05 and last traded at $3.09. 29,153 shares were traded during mid-day trading, a decline of 48% from the average session volume of 55,663 shares. The stock had previously closed at $3.10.

Spruce Power Stock Up 1.9 %

The company has a market capitalization of $58.60 million, a P/E ratio of -0.62 and a beta of 1.15. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.75 and a current ratio of 2.75. The firm's fifty day moving average is $2.66 and its 200-day moving average is $2.88.

Insiders Place Their Bets

In other news, Director John P. Miller purchased 20,000 shares of Spruce Power stock in a transaction dated Monday, December 2nd. The shares were bought at an average cost of $2.62 per share, for a total transaction of $52,400.00. Following the completion of the acquisition, the director now owns 80,593 shares in the company, valued at approximately $211,153.66. This trade represents a 33.01 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have purchased 29,000 shares of company stock valued at $76,240. 9.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Spruce Power

A hedge fund recently raised its stake in Spruce Power stock. Clayton Partners LLC increased its stake in Spruce Power Holding Co. (NYSE:SPRU - Free Report) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 438,318 shares of the company's stock after acquiring an additional 54,918 shares during the quarter. Spruce Power comprises 1.3% of Clayton Partners LLC's holdings, making the stock its 29th largest holding. Clayton Partners LLC owned about 2.38% of Spruce Power worth $1,600,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.