Spruce Power (NYSE:SPRU) Trading Up 5.7% – What’s Next?

Shares of Spruce Power Holding Co. (NYSE:SPRU) rose 5.7% during trading on Wednesday . The company traded as high as $2.44 and last traded at $2.43. Approximately 104,095 shares traded hands during trading, an increase of 151% from the average daily volume of 41,528 shares. The stock had previously closed at $2.30.

Spruce Power Stock Performance

The company has a debt-to-equity ratio of 3.81, a current ratio of 2.75 and a quick ratio of 2.75. The stock’s 50-day moving average is $2.55 and its two-hundred day moving average is $3.02.

Institutional Trading of Spruce Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in Spruce Power by 6.2% in the 3rd quarter. Geode Capital Management LLC now owns 155,200 shares of the company’s stock worth $441,000 after buying an additional 9,093 shares during the period. Vanguard Group Inc. increased its holdings in Spruce Power by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 651,207 shares of the company’s stock worth $2,585,000 after purchasing an additional 45,024 shares during the period. Finally, Clayton Partners LLC raised its position in Spruce Power by 14.3% during the 2nd quarter. Clayton Partners LLC now owns 438,318 shares of the company’s stock valued at $1,600,000 after purchasing an additional 54,918 shares in the last quarter. Hedge funds and other institutional investors own 20.76% of the company’s stock.

About Spruce Power

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.