Northland Power (TSE:NPI) Trading Down 23.7% – What’s Next?

Northland Power Inc. (TSE:NPI)’s share price dropped 23.7% during mid-day trading on Thursday . The company traded as low as C$18.28 and last traded at C$19.13. Approximately 4,329,428 shares traded hands during mid-day trading, an increase of 380% from the average daily volume of 901,196 shares. The stock had previously closed at C$25.07.

Analysts Set New Price Targets

A number of research firms recently commented on NPI. Raymond James Financial decreased their target price on shares of Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research report on Friday, August 15th. Desjardins lowered their price objective on Northland Power from C$28.00 to C$27.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, CIBC boosted their target price on Northland Power from C$28.00 to C$29.00 in a research note on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Northland Power presently has a consensus rating of “Buy” and a consensus target price of C$27.07.

Northland Power Price Performance

The stock has a 50 day moving average of C$24.09 and a 200-day moving average of C$22.40. The company has a debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17. The company has a market cap of C$5.02 billion, a PE ratio of -91.33, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87.

Northland Power Company Profile

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term.