Northland Power (TSE:NPI) Shares Down 27.2% on Analyst Downgrade

Northland Power Inc. (TSE:NPI) traded down 27.2% during trading on Friday after BMO Capital Markets lowered their price target on the stock from C$31.00 to C$25.00. The stock traded as low as C$18.01 and last traded at C$18.24. 10,717,066 shares were traded during mid-day trading, an increase of 1,039% from the average session volume of 940,790 shares. The stock had previously closed at C$25.07.

NPI has been the subject of several other research reports. Desjardins reduced their target price on shares of Northland Power from C$28.00 to C$27.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Raymond James Financial cut their price objective on shares of Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a report on Friday, August 15th. Finally, CIBC raised their target price on Northland Power from C$28.00 to C$29.00 in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$26.81.

Northland Power Price Performance

The business has a fifty day moving average of C$24.01 and a 200-day moving average of C$22.37. 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 firm has a market capitalization of C$4.77 billion, a P/E ratio of -86.86, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87.

Northland Power (TSE:NPI) last posted its quarterly earnings data on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share (EPS) for the quarter. Northland Power had a negative net margin of 5.92% and a negative return on equity of 3.37%. The company had revenue of C$559.39 million during the quarter.

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.