Spruce Power (NYSE:SPRU) Shares Up 5.7% – Here’s What Happened

Spruce Power Holding Co. (NYSE:SPRU) shares rose 5.7% on Wednesday . The company traded as high as $2.44 and last traded at $2.43. Approximately 104,095 shares were traded 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 stock has a 50-day moving average price of $2.55 and a two-hundred day moving average price of $3.02. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.75 and a current ratio of 2.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Spruce Power by 7.4% in 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 in the last quarter. Clayton Partners LLC grew its holdings 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 buying an additional 54,918 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Spruce Power by 6.2% during the third quarter. Geode Capital Management LLC now owns 155,200 shares of the company’s stock valued at $441,000 after purchasing an additional 9,093 shares during the last quarter. 20.76% of the stock is currently owned by institutional investors.

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.