Spruce Power Holding CorpSPRU
SPRU
About: Spruce Power Holding Corp is a leading owner and operator of distributed solar energy assets across the United States (the U.S.), offering subscription-based services to approximately 75,000 home solar assets and customer contracts, making renewable energy more accessible to everyone. The Company's primary customers are homeowners and the Company's core solar service offerings generate revenues primarily through (i) the sale of electricity generated by its home solar energy systems to homeowners, (ii) third-party contracts to sell solar renewable energy credits (SRECs) generated by the solar energy systems for fixed prices and (iii) the servicing of those agreements for other institutional owners of home solar energy systems.
Employees: 142
0
Funds holding %
of 6,809 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
0.7% more ownership
Funds ownership: 20.82% [Q2] → 21.52% (+0.7%) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]
10% less funds holding
Funds holding: 39 [Q2] → 35 (-4) [Q3]
20% less capital invested
Capital invested by funds: $14.1M [Q2] → $11.3M (-$2.75M) [Q3]
33% less repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 9
44% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 9
Research analyst outlook
We haven’t received any recent analyst ratings for SPRU.
Financial journalist opinion
Neutral
Business Wire
3 weeks ago
Spruce Power Announces Acquisition of Residential Solar Portfolio from NJR Clean Energy Ventures, Adding Nearly 9,800 Customers in New Jersey
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”) today announced the acquisition of a residential solar portfolio from NJR Clean Energy Ventures (“CEV”), a subsidiary of New Jersey Resources Corporation (NYSE: NJR), for $132.5 million. The acquisition closed on November 22, 2024. The acquired assets (“Spruce Power 5 Portfolio” or the “Portfolio”) consist of approximately 9,800 solar systems in New Jersey that were installed under a CEV residenti.
Neutral
Business Wire
3 weeks ago
NJR Clean Energy Ventures Announces Sale of Residential Solar Business
WALL, N.J.--(BUSINESS WIRE)--NJR Clean Energy Ventures (CEV), a clean energy subsidiary of New Jersey Resources (NYSE: NJR), today announced the sale of its 91 megawatt (MW) residential solar portfolio, to Spruce Power Holding Corporation (NYSE: SPRU) for a total of $132.5 million. NJR expects to record a gain on sale in fiscal 2025, and will use the proceeds to pay down corporate debt and for general working capital purposes. “Renewable energy investments are an integral part of our business a.
Neutral
Seeking Alpha
1 month ago
Spruce Power Holding Corporation (SPRU) Q3 2024 Earnings Call Transcript
Spruce Power Holding Corporation (NYSE:SPRU ) Q3 2024 Earnings Conference Call November 13, 2024 4:30 PM ET Company Participants Bronson Fleig - Head, IR Chris Hayes - CEO Sarah Wells - CFO Conference Call Participants Peter Gastreich - Water Tower Research Operator Thank you for standing by. My name is John and I'll be your conference operator for today.
Neutral
Business Wire
1 month ago
Spruce Power Reports Third Quarter 2024 Results
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today reported financial results for the third quarter ended September 30, 2024. Business Highlights Reported 3Q revenues of $21.4 million, net loss attributable to stockholders of $53.5 million and Operating EBITDA of $17.7 million Ended quarter with strong liquidity position for future growth, with $113.7.
Neutral
Business Wire
1 month ago
Spruce Power to Release Third Quarter 2024 Results and Host Conference Call on November 13
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 third quarter 2024 financial results after the stock market close on Wednesday, November 13. 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/default.aspx. Managem.
Neutral
Seeking Alpha
4 months ago
Spruce Power Holding Corporation (SPRU) Q2 2024 Earnings Call Transcript
Spruce Power Holding Corporation (NYSE:SPRU ) Q2 2024 Earnings Conference Call May 15, 2024 4:30 PM ET Company Participants Bronson Fleig - Head, IR Chris Hayes - CEO Sarah Wells - CFO Conference Call Participants Shawn Severson - Water Tower Research Operator Thank you for standing by. My name is Kayla, and I will be your conference operator today.
Neutral
Business Wire
4 months ago
Spruce Power Reports Second Quarter 2024 Results
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today reported financial results for the second quarter ended June 30, 2024. Business Highlights Reported 2Q revenues of $22.5 million, net loss attributable to stockholders of $8.6 million and Operating EBITDA of $14.4 million. Ended quarter with strong liquidity position for future growth, with $116.6 mill.
Neutral
Business Wire
4 months ago
Spruce Power to Release Second Quarter 2024 Results and Host Conference Call on August 14
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 second quarter 2024 financial results after the stock market close on Wednesday, August 14. 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/default.aspx. Manageme.
Neutral
Business Wire
5 months ago
Spruce Power Welcomes its Newest Leadership Addition: Clean Energy Executive and Entrepreneur, Richard DiMatteo
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced the addition of Richard DiMatteo as Senior Vice President, Head of Spruce Pro. The addition of Rich DiMatteo underscores Spruce's strategic commitment to advancing its distributed energy platform through Spruce Pro, a brand that extends the Company's servicing solutions to third-party asset o.
Neutral
Business Wire
5 months ago
Spruce Power Announces $130 Million Debt Financing
DENVER--(BUSINESS WIRE)--Spruce Power Holding Corporation (NYSE: SPRU) (“Spruce” or the “Company”), a leading owner and operator of distributed solar energy assets across the United States, today announced that certain of its subsidiaries have closed on a $130 million non-recourse debt facility (the “New Debt Facility”) provided by Barings LLC (“Barings”). The New Debt Facility refinances the Company's term loan of $125 million (the “SP4 Facility”) and provides for a net injection of incrementa.
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