Spruce Power (NYSE:SPRU) Insider Sells $42,600.00 in Stock

Spruce Power Holding Corporation (NYSE:SPRU) insider Jonathan Mcwhinnie Norling sold 15,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $2.84, for a total value of $42,600.00. Following the completion of the sale, the insider owned 403,252 shares of the company’s stock, valued at approximately $1,145,235.68. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Spruce Power Trading Up 1.6%

SPRU stock opened at $2.94 on Friday. Spruce Power Holding Corporation has a twelve month low of $1.13 and a twelve month high of $6.75. The stock has a market capitalization of $53.51 million, a price-to-earnings ratio of -3.87 and a beta of 1.17. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 3.86. The firm’s fifty day simple moving average is $3.28 and its two-hundred day simple moving average is $4.25.

Spruce Power (NYSE:SPRU) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter. The firm had revenue of $23.42 million for the quarter. Spruce Power had a negative return on equity of 10.95% and a negative net margin of 12.22%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Spruce Power in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. purchased a new position in Spruce Power in the fourth quarter valued at about $16,275,000. Marshall Wace LLP purchased a new stake in shares of Spruce Power during the fourth quarter valued at about $450,000. Renaissance Technologies LLC lifted its position in shares of Spruce Power by 29.6% during the first quarter. Renaissance Technologies LLC now owns 236,233 shares of the company’s stock valued at $969,000 after buying an additional 53,900 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Spruce Power in the 3rd quarter worth approximately $119,000. Finally, State Street Corp grew its position in shares of Spruce Power by 103.1% in the 4th quarter. State Street Corp now owns 89,439 shares of the company’s stock worth $455,000 after buying an additional 45,400 shares during the last quarter. Hedge funds and other institutional investors own 20.76% of the company’s stock.

Spruce Power Company Profile

Spruce Power is a renewable energy company that specializes in the ownership, operation and management of distributed solar energy assets. The company partners with solar developers to acquire residential and small-commercial solar portfolios, providing long-term performance monitoring, maintenance and customer support for system owners. By focusing on turnkey asset management, Spruce Power enables homeowners and businesses to benefit from solar power without the upfront risks and responsibilities of system ownership.

Headquartered in San Francisco, California, Spruce Power was founded in 2009 and has grown through strategic acquisitions and partnerships.