Jonathan Mcwhinnie Norling Sells 15,000 Shares of Spruce Power (NYSE:SPRU) Stock

Spruce Power Holding Corporation (NYSE:SPRU) insider Jonathan Mcwhinnie Norling sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 403,252 shares of the company’s stock, valued at $1,145,235.68. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Spruce Power Stock Performance

Shares of Spruce Power stock opened at $2.94 on Friday. Spruce Power Holding Corporation has a 52 week low of $1.13 and a 52 week high of $6.75. 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 business has a 50 day moving average price of $3.28 and a 200-day moving average price of $4.25. The company has a market cap of $53.51 million, a PE ratio of -3.87 and a beta of 1.17.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Spruce Power in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Spruce Power has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spruce Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SPRU. XTX Topco Ltd purchased a new position in shares of Spruce Power in the 4th quarter worth approximately $137,000. Dimensional Fund Advisors LP bought a new position in shares of Spruce Power in the fourth quarter valued at approximately $218,000. State Street Corp increased its position in shares of Spruce Power by 103.1% during the fourth quarter. State Street Corp now owns 89,439 shares of the company’s stock valued at $455,000 after acquiring an additional 45,400 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Spruce Power by 19.7% during the fourth quarter. Renaissance Technologies LLC now owns 182,333 shares of the company’s stock valued at $928,000 after acquiring an additional 30,013 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Spruce Power by 15.5% during the fourth quarter. Geode Capital Management LLC now owns 187,164 shares of the company’s stock worth $953,000 after acquiring an additional 25,171 shares during the period. Hedge funds and other institutional investors own 20.76% of the company’s stock.

About Spruce Power

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.