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

Northland Power Inc. (TSE:NPI) traded down 27.2% during trading on Thursday after BMO Capital Markets lowered their price target on the stock from C$31.00 to C$25.00. The stock traded as low as C$18.14 and last traded at C$18.25. 8,897,323 shares changed hands during mid-day trading, an increase of 856% from the average session volume of 930,948 shares. The stock had previously closed at C$25.07.

A number of other equities analysts also recently issued reports on NPI. Desjardins lowered their price objective 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. Raymond James Financial decreased their target price on 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. Finally, CIBC lifted their price target on Northland Power from C$28.00 to C$29.00 in a research report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$26.81.

Northland Power Price Performance

The company has a market capitalization of C$4.77 billion, a P/E ratio of -86.81, a price-to-earnings-growth 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 firm’s 50-day moving average is C$24.09 and its 200-day moving average is 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.