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

Shares of Northland Power Inc. (TSE:NPI) traded down 27.2% during mid-day trading on Friday after Desjardins downgraded the stock from a moderate buy rating to a hold rating. The company traded as low as C$18.01 and last traded at C$18.24. 10,717,066 shares were traded 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.

Other equities analysts also recently issued reports about the company. BMO Capital Markets downgraded Northland Power from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from C$31.00 to C$25.00 in a research report on Thursday. CIBC decreased their price objective on Northland Power from C$29.00 to C$25.00 in a research note on Friday. Finally, Raymond James Financial cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Northland Power has an average rating of “Moderate Buy” and an average price target of C$26.31.

Northland Power Stock Down 0.2%

The stock has a market cap of C$4.76 billion, a P/E ratio of -86.67, a price-to-earnings-growth ratio of 0.71 and a beta of 0.87. The company’s fifty day moving average price is C$23.92 and its 200-day moving average price is C$22.39. The company has a debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17.

Northland Power (TSE:NPI) last issued 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 return on equity of 3.37% and a negative net margin of 5.92%.The business had revenue of C$559.39 million during 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.