Spruce Power Holding Corporation (NYSE: SPRU) stock jumped 0.30% on Wednesday to $0.78 against a previous-day closing price of $0.78. With 0.52 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.49 million shares. The 52-week range on SPRU shows that it touched its highest point at $1.60 and its lowest point at $0.55 during that stretch. Beta for the stock currently stands at 1.17.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SPRU was down-trending over the past week, with a drop of -2.92%, but this was up by 8.36% over a month. Three-month performance dropped to -25.69% while six-month performance fell -19.58%. The stock lost -36.56% in the past year, while it has lost -15.10% so far this year.
Float and Shares Shorts:
At present, 142.69 million SPRU shares are outstanding with a float of 94.01 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.84 million, which was 1.24% higher than short shares on Mar 30, 2023. In addition to Mr. Christian S. Fong CFA as the firm’s CEO, Pres & Director, Ms. Sarah Weber Wells serves as its Sr. VP of Fin. & Accounting and Head of Sustainability.
Through their ownership of 27.52% of SPRU’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.47% of SPRU, in contrast to 15.69% held by mutual funds. Shares owned by individuals account for 13.81%. As the largest shareholder in SPRU with 4.18% of the stake, JPMorgan Investment Management, I holds 6,183,946 shares worth 6,183,946. A second-largest stockholder of SPRU, The Vanguard Group, Inc., holds 4,681,500 shares, controlling over 3.17% of the firm’s shares. Macquarie Investment Management B is the third largest shareholder in SPRU, holding 3,035,287 shares or 2.05% stake. With a 2.06% stake in SPRU, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,048,837 shares are owned by the mutual fund manager. The Delaware Ivy Natural Resources Fu, which owns about 1.06% of SPRU stock, is the second-largest Mutual Fund holder. It holds 1,560,467 shares valued at 1.09 million. Vanguard Extended Market Index Fu holds 1.01% of the stake in SPRU, owning 1,488,699 shares worth 1.04 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, SPRU reported revenue of $3.01M and operating income of -$14.64M. The EBITDA in the recently reported quarter was -$13.83M and diluted EPS was -$0.09.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SPRU since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With SPRU analysts setting a high price target of $6.00 and a low target of $6.00, the average target price over the next 12 months is $6.00. Based on these targets, SPRU could surge 669.23% to reach the target high and rise by 669.23% to reach the target low. Reaching the average price target will result in a growth of 669.23% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded SPRU stock several times over the past three months with 2 Buys and 6 Sells. In these transactions, 1,003,000 shares were bought while 324,708 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 3,109,155 while 651,266 shares were sold.