Northland Power (TSE:NPI) Trading Down 27% After Analyst Downgrade

Northland Power Inc. (TSE:NPI)’s share price traded down 27% 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$18.01 and last traded at C$18.31. 10,030,441 shares traded hands during mid-day trading, an increase of 973% from the average session volume of 934,540 shares. The stock had previously closed at C$25.07.

Other analysts have also issued reports about the stock. 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 research report on Tuesday, October 14th. CIBC increased their target price on Northland Power from C$28.00 to C$29.00 in a report on Monday, July 21st. Finally, Raymond James Financial reduced their price target on Northland Power from C$29.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$26.81.

Northland Power Stock Performance

The business has a fifty day moving average of C$24.09 and a 200 day moving average of C$22.40. 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 company has a quick ratio of 1.23, a current ratio of 1.17 and a debt-to-equity ratio of 181.28.

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.