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

Northland Power Inc. (TSE:NPI) traded down 27.2% during mid-day 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.

A number of other equities research analysts have also issued reports on the company. Raymond James Financial cut their target price on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. 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 note on Tuesday, October 14th. Finally, CIBC boosted their price objective on Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Northland Power presently has an average rating of “Buy” and an average target price of C$26.81.

Northland Power Stock Down 27.2%

The firm has a market cap of C$4.77 billion, a PE ratio of -86.86, a P/E/G ratio of 0.71 and a beta of 0.87. The company has a debt-to-equity ratio of 181.28, a current ratio of 1.17 and a quick ratio of 1.23. The business has a fifty day moving average price of C$24.01 and a two-hundred day moving average price of C$22.37.

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

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.