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

Northland Power Inc. (TSE:NPI) shares traded down 27.2% during mid-day trading on Thursday 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$18.14 and last traded at C$18.25. 8,897,323 shares changed hands during trading, an increase of 856% from the average session volume of 930,948 shares. The stock had previously closed at C$25.07.

NPI has been the topic of a number of other reports. CIBC increased their price target on shares of Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. 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 on the stock in a report on Friday, August 15th. Finally, Desjardins cut their price target on shares of 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 given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$26.81.

Northland Power Stock Down 27.3%

The company has a market capitalization of C$4.77 billion, a P/E ratio of -86.81, a PEG 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 company has a 50 day moving average of C$24.09 and a 200-day moving average of C$22.40.

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.