Spruce Power Holding Corporation (NYSE: SPRU)’s stock price has soared by 12.83 in relation to previous closing price of 3.82. Nevertheless, the company has seen a gain of 28.27% in its stock price over the last five trading days. Business Wire reported 2024-02-28 that DENVER–(BUSINESS WIRE)–Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce”), a leading owner and operator of distributed solar energy assets across the United States, today announced that it will report fourth quarter and full-year 2023 financial results after the stock market close on Thursday, March 14, 2024. Spruce will issue a press release reporting its results, which will be available on the Investor Relations section of its website at https://investors.sprucepower.com/overview/defa.
Is It Worth Investing in Spruce Power Holding Corporation (NYSE: SPRU) Right Now?
The 36-month beta value for SPRU is at 1.30. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for SPRU is 14.72M, and currently, shorts hold a 2.81% of that float. The average trading volume for SPRU on April 24, 2024 was 48.29K shares.
SPRU’s Market Performance
The stock of Spruce Power Holding Corporation (SPRU) has seen a 28.27% increase in the past week, with a 7.48% rise in the past month, and a 10.51% gain in the past quarter. The volatility ratio for the week is 9.97%, and the volatility levels for the past 30 days are at 7.09% for SPRU. The simple moving average for the past 20 days is 20.39% for SPRU’s stock, with a -10.09% simple moving average for the past 200 days.
SPRU Trading at 15.04% from the 50-Day Moving Average
After a stumble in the market that brought SPRU to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -48.69% of loss for the given period.
Volatility was left at 7.09%, however, over the last 30 days, the volatility rate increased by 9.97%, as shares surge +8.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.63% upper at present.
During the last 5 trading sessions, SPRU rose by +28.27%, which changed the moving average for the period of 200-days by -36.02% in comparison to the 20-day moving average, which settled at $3.60. In addition, Spruce Power Holding Corporation saw -2.49% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SPRU starting from LEDECKY JONATHAN J, who purchase 39,689 shares at the price of $0.80 back on Jun 07 ’23. After this action, LEDECKY JONATHAN J now owns 363,710 shares of Spruce Power Holding Corporation, valued at $31,854 using the latest closing price.
LEDECKY JONATHAN J, the Director of Spruce Power Holding Corporation, purchase 10,025 shares at $0.84 during a trade that took place back on Jun 06 ’23, which means that LEDECKY JONATHAN J is holding 324,021 shares at $8,421 based on the most recent closing price.
Stock Fundamentals for SPRU
Current profitability levels for the company are sitting at:
- -0.49 for the present operating margin
- 0.51 for the gross margin
The net margin for Spruce Power Holding Corporation stands at -0.85. The total capital return value is set at -0.05. Equity return is now at value -25.16, with -6.91 for asset returns.
Based on Spruce Power Holding Corporation (SPRU), the company’s capital structure generated 0.74 points at debt to capital in total, while cash flow to debt ratio is standing at -0.06. The debt to equity ratio resting at 2.92. The interest coverage ratio of the stock is -0.95.
Currently, EBITDA for the company is 12.34 million with net debt to EBITDA at -13.29. When we switch over and look at the enterprise to sales, we see a ratio of 6.59. The receivables turnover for the company is 8.78for trailing twelve months and the total asset turnover is 0.09. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.84.
Conclusion
In conclusion, Spruce Power Holding Corporation (SPRU) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
