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

Northland Power Inc. (TSE:NPI)’s share price dropped 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. BMO Capital Markets currently has a hold rating on the stock. Northland Power traded as low as C$18.01 and last traded at C$18.24. Approximately 10,717,066 shares changed hands during mid-day trading, an increase of 1,039% from the average daily volume of 940,790 shares. The stock had previously closed at C$25.07.

NPI has been the subject of a number of other research reports. Raymond James Financial dropped 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 report on Friday, August 15th. CIBC upped their price target on shares of Northland Power from C$28.00 to C$29.00 in a research report on Monday, July 21st. Finally, Desjardins cut their price objective 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 issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$26.81.

Northland Power Trading Down 27.2%

The firm has a market cap 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 debt-to-equity ratio of 181.28, a quick ratio of 1.23 and a current ratio of 1.17. The firm has a fifty day moving average of C$24.01 and a 200-day moving average of C$22.37.

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

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.