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

Northland Power Inc. (TSE:NPI) shares fell 27.2% during trading on Thursday 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 changed hands during 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 reports. CIBC increased their price objective on Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. Desjardins dropped their price objective on shares of 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, 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 note on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$26.81.

Northland Power Trading Down 27.2%

The stock has a market capitalization of C$4.77 billion, a PE ratio of -86.86, a PEG ratio of 0.71 and a beta of 0.87. 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 business’s 50-day moving average is C$24.09 and its two-hundred day moving average is C$22.40.

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