Spruce Power Holding Corporation Class A (SPRU)

Several events have impacted Spruce Power Holding Corp.'s stock price in the past six months. Thomas Cimino was appointed as the permanent Chief Financial Officer on December 8, 2025. On November 11, 2025, Spruce Power reported its Third Quarter 2025 financial results, announcing a narrower loss year-over-year, a significant increase in revenue, a rise in operating EBITDA, positive free cash flow, and a reduction in core operating expenses. Following its strong Q3 earnings, Spruce Power's stock price surged 56% in the preceding month, contributing to a 90% annual gain on November 13, 2025. The company announced it would release its Third Quarter 2025 financial results and host a conference call on November 11, 2025, on October 29, 2025. Zacks Investment Research initiated coverage of Spruce Power with a "Neutral" recommendation on September 26, 2025, highlighting a revenue surge and a climb in EBITDA during Q2 2025, and the company also announced a new share repurchase program. During its Second Quarter 2025 earnings call on August 11, 2025, Spruce Power reported an increase in revenue and growth in operating EBITDA compared to the prior year, and core operating expenses were also down.

Spruce Power Holding Corp. experiences seasonal revenue fluctuations, with variations in demand and energy production based on factors such as sunlight availability, weather conditions, and consumer behavior throughout the year. Demand for new installations or energy production might be higher during periods with more daylight and favorable weather.

Spruce Power Holding Corp. is an owner and operator of distributed solar energy assets across the United States, operating within the Electric Utilities sector, specifically in the Solar industry. The company offers subscription-based services to approximately 85,000 home solar assets and customer contracts, aiming to make renewable energy more accessible. Its major products and services include subscription-based solar energy services, battery solutions and system expansion, extended service agreements, and the Spruce Pro platform, which offers portfolio management services.

Spruce Power Holding Corp. operates its distributed solar energy assets across the United States, with a diversified solar footprint spanning 18 states. The company is headquartered in Denver, Colorado.

In the past year, Spruce Power's brand reputation appears to be largely tied to its financial performance and strategic growth initiatives. Strong financial results, strategic acquisitions, a significant third-party agreement with ADT, and the appointment of a new CFO have shaped its reputation. While the company has faced challenges such as a decline in quarterly revenue from previous periods and potential impacts from policy changes, these have been discussed in the context of its overall resilient business model and strategic initiatives.

Spruce Power Holding Corp. has a diverse ownership structure, including both institutional and individual investors. Major institutional owners include JPMorgan Chase & Co, Vanguard Group Inc, BlackRock, Inc., Geode Capital Management, Llc, Renaissance Technologies Llc, Steel Partners Holdings LP, and State Street Corp, with Steel Partners Holdings L.P. holding a significant portion of the total shares. Individual owners include Jonathan J. Ledecky, Shawn W. Kravetz, Eric Tech, Christopher M. Hayes, John P. Miller, Sarah Weber Wells, Jonathan M. Norling, and Ja-Chin Audrey Lee. Institutional ownership generally ranges from 16.9% to 19.6%, while individual ownership is between 3% and 7.4%.