Spruce Power's (SPRU) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (D-)" rating for Spruce Power (NYSE: SPRU), indicating continued pessimism about the company's stock performance.
• Spruce Power's stock is currently trading at $3.03, with a significant debt-to-equity ratio of 3.76 and a negative return on equity of 35.22%.
• Despite its challenges, Spruce Power has a customer base of approximately 75,000 homeowners and businesses utilizing their subscription-based solar and battery storage services.

Spruce Power (NYSE:SPRU - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Spruce Power Price Performance

SPRU stock remained flat at $3.03 during trading on Tuesday. 60,004 shares of the company traded hands, compared to its average volume of 489,710. The company has a market capitalization of $54.02 million, a price-to-earnings ratio of -0.72 and a beta of 1.73. Spruce Power has a 12 month low of $1.13 and a 12 month high of $3.41. The company has a debt-to-equity ratio of 3.76, a current ratio of 0.50 and a quick ratio of 0.50. The stock's 50-day moving average price is $1.83 and its two-hundred day moving average price is $1.84.

Spruce Power (NYSE:SPRU - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.17) EPS for the quarter. Spruce Power had a negative return on equity of 35.22% and a negative net margin of 78.82%.The company had revenue of $33.24 million for the quarter.

Institutional Trading of Spruce Power

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new stake in shares of Spruce Power in the second quarter worth $32,000. Clayton Partners LLC raised its position in shares of Spruce Power by 4.6% during the first quarter. Clayton Partners LLC now owns 463,335 shares of the company's stock worth $1,117,000 after purchasing an additional 20,264 shares during the period. Finally, Jane Street Group LLC purchased a new position in Spruce Power in the 2nd quarter worth approximately $42,000. 20.76% of the stock is owned by hedge funds and other institutional investors.

Spruce Power Company Profile

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.

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