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

Shares of Northland Power Inc. (TSE:NPI) fell 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 company 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.

Other analysts have also recently issued research reports about the stock. CIBC upped their price objective on shares of Northland Power from C$28.00 to C$29.00 in a research report on Monday, July 21st. Raymond James Financial decreased their target price on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating for the company in a research note on Friday, August 15th. Finally, Desjardins dropped their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$26.81.

Northland Power Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.23 and a debt-to-equity ratio of 181.28. The company has a market capitalization of C$4.77 billion, a P/E ratio of -86.86, a P/E/G ratio of 0.71 and a beta of 0.87. The company has a 50 day moving average price of C$24.01 and a 200 day moving average price of C$22.37.

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

About Northland Power

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.