Northland Power (TSE:NPI) Stock Price Down 23.8% – Here’s What Happened

Northland Power Inc. (TSE:NPI) traded down 23.8% during mid-day trading on Thursday . The stock traded as low as C$18.28 and last traded at C$19.11. 5,571,660 shares were traded during mid-day trading, an increase of 510% from the average session volume of 912,691 shares. The stock had previously closed at C$25.07.

Analysts Set New Price Targets

NPI has been the subject of a number of research analyst reports. CIBC upped their target price on Northland Power from C$28.00 to C$29.00 in a research report on Monday, July 21st. Raymond James Financial reduced 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. Finally, Desjardins lowered their target price on shares of 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 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 currently has an average rating of “Buy” and an average price target of C$27.07.

Northland Power Price 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 50-day moving average of C$24.09 and a 200-day moving average of C$22.40. The stock has a market capitalization of C$4.96 billion, a price-to-earnings ratio of -90.33, a P/E/G ratio of 0.71 and a beta of 0.87.

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.