Northland Power (OTCMKTS:NPIFF) Shares Gap Up on Strong Earnings

Northland Power, Inc. (OTCMKTS:NPIFF)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $15.8980, but opened at $16.50. Northland Power shares last traded at $16.72, with a volume of 1,275 shares traded.

The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.44. The business had revenue of $397.06 million during the quarter, compared to analysts’ expectations of $382.32 million. Northland Power had a positive return on equity of 10.29% and a negative net margin of 5.60%.

Wall Street Analyst Weigh In

Separately, TD Securities upgraded Northland Power from a “hold” rating to a “buy” rating in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Northland Power currently has an average rating of “Moderate Buy”.

Northland Power Stock Performance

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.32. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of -41.02 and a beta of 0.10. The company has a 50 day simple moving average of $15.68 and a 200 day simple moving average of $15.80.

About Northland Power

Northland Power is a Canadian power producer that develops, owns and operates electricity-generation and energy-storage facilities. Its portfolio includes offshore and onshore wind, solar, natural gas and battery storage projects. Founded in 1987 and headquartered in Toronto, the company has expanded beyond Canada into international markets, including Europe and the Asia-Pacific region. Its activities span the development and construction of energy projects as well as the operation of facilities that supply electricity to power markets and customers.