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

Shares of 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 company traded as low as C$18.01 and last traded at C$18.24. 10,717,066 shares changed hands 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.

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. Raymond James Financial cut their price target 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. Finally, Desjardins reduced their price target on Northland Power from C$28.00 to C$27.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$26.81.

Northland Power Stock Performance

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 company 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 firm has a 50 day moving average price of C$24.01 and a 200-day moving average price of C$22.37.

Northland Power (TSE:NPI) last issued its quarterly earnings data on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share 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.