Spruce Power (NYSE:SPRU) Insider Jonathan Mcwhinnie Norling Sells 15,000 Shares of 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 transaction, the insider directly owned 403,252 shares of the company’s stock, valued at approximately $1,145,235.68. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Spruce Power Stock Up 1.6%

SPRU opened at $2.94 on Friday. The company has a market capitalization of $53.51 million, a P/E ratio of -3.87 and a beta of 1.17. The company has a debt-to-equity ratio of 3.86, a current ratio of 0.48 and a quick ratio of 0.48. The firm’s fifty day moving average price is $3.31 and its two-hundred day moving average price is $4.26. Spruce Power Holding Corporation has a fifty-two week low of $1.13 and a fifty-two week high of $6.75.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SPRU. Virtu Financial LLC bought a new stake in Spruce Power during the 3rd quarter worth approximately $31,000. XTX Topco Ltd bought a new position in Spruce Power in the 2nd quarter valued at $32,000. Jane Street Group LLC bought a new position in Spruce Power in the 2nd quarter valued at $42,000. Headlands Technologies LLC acquired a new position in Spruce Power in the fourth quarter worth $53,000. Finally, Goldman Sachs Group Inc. boosted its stake in Spruce Power by 37.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,072 shares of the company’s stock worth $92,000 after purchasing an additional 4,963 shares in the last quarter. 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.