Spruce Power (NYSE:SPRU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Spruce Power (NYSE:SPRU) to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Spruce Power in a research note on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Spruce Power Stock Up 3.6%

Shares of NYSE SPRU opened at $2.90 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 3.76. The company’s 50-day simple moving average is $1.98 and its 200-day simple moving average is $1.87. The firm has a market cap of $51.72 million, a price-to-earnings ratio of -0.69 and a beta of 1.73. Spruce Power has a 52-week low of $1.13 and a 52-week high of $3.41.

Spruce Power (NYSE:SPRU) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.17) EPS for the quarter. Spruce Power had a negative net margin of 78.82% and a negative return on equity of 35.22%. The firm had revenue of $33.24 million during the quarter.

Institutional Investors Weigh In On Spruce Power

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in Spruce Power during the second quarter worth about $42,000. Clayton Partners LLC increased its holdings in shares of Spruce Power by 4.6% during the 1st quarter. Clayton Partners LLC now owns 463,335 shares of the company’s stock worth $1,117,000 after buying an additional 20,264 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Spruce Power during the 2nd quarter valued at approximately $32,000. 20.76% of the stock is currently owned by institutional investors and hedge funds.

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.