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Steel Connect Sub LLC, a subsidiary of Steel Connect LLC, has purchased 9,702 shares of SPRUCE POWER HOLDING CORP (SPRU:SPRU) common stock in three separate transactions, increasing its stake in the company. The purchases, which totaled $39059, were executed between April 10 and April 14, 2026, at prices ranging from $4.00 to $4.05 per share.
Specifically, on April 10, Steel Connect Sub LLC bought 1,700 shares at $4.00 per share. This was followed by another purchase of 2,975 shares at $4.00 per share on April 13. The final transaction occurred on April 14, with the acquisition of 5,027 shares at $4.05 per share.
Following these transactions, Steel Connect Sub LLC directly owns 3,390,801 shares of Spruce Power Holding Corp. common stock.The insider buying comes as SPRU trades near $4.05, with the stock delivering a remarkable 95% return over the past year despite recent volatility. According to InvestingPro analysis, the stock appears undervalued at current levels, with a Fair Value estimate suggesting modest upside potential. The company carries a market capitalization of $72.68 million and an InvestingPro Tip notes that management has been aggressively buying back shares—a trend reinforced by these recent insider purchases.
The Form 4 filing was jointly submitted by Steel Partners Holdings L.P, Steel Partners Holdings GP Inc., SPH Group LLC, SPH Group Holdings LLC, Steel Excel Inc., Steel Connect LLC, and Steel Connect Sub LLC, all of whom may be deemed to be part of a Section 13(d) group holding over 10% of Spruce Power’s outstanding common stock. The reporting parties have disclaimed beneficial ownership of the securities, except to the extent of their pecuniary interest.For deeper analysis of SPRU’s valuation and insider activity trends, investors can access the comprehensive Pro Research Report, available as part of InvestingPro’s coverage of over 1,400 US equities.
In other recent news, Spruce Power Holding Corporation reported fourth-quarter revenue of $24.0 million, marking a 19% increase compared to the previous year. This growth was attributed to the company’s expanding portfolio and servicing capabilities. Despite the revenue increase, Spruce Power posted an adjusted earnings per share (EPS) loss of -$0.38 for the quarter ending December 31, 2025. Additionally, the company announced an extension to the deadline for shareholder proposals or director nominations for the 2026 annual meeting. The new deadline for submissions is April 30, 2026, as stated in a press release filed with the Securities and Exchange Commission. Proposals or nominations submitted after this date will not be considered at the 2026 annual meeting.
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