Northland Power (TSE:NPI) Reaches New 1-Year Low on Analyst Downgrade

Shares of Northland Power Inc. (TSE:NPI) reached a new 52-week low during mid-day trading on Tuesday after Raymond James Financial lowered their price target on the stock from C$25.00 to C$23.00. The company traded as low as C$16.13 and last traded at C$16.19, with a volume of 2498014 shares changing hands. The stock had previously closed at C$16.73.

Other analysts have also recently issued research reports about the stock. TD Securities cut shares of Northland Power from a “buy” rating to a “hold” rating and reduced their target price for the company from C$22.00 to C$19.00 in a report on Friday, November 21st. BMO Capital Markets dropped their price objective on shares of Northland Power from C$25.00 to C$23.00 in a research report on Friday, November 21st. Desjardins lowered shares of Northland Power from a “moderate buy” rating to a “hold” rating in a report on Thursday, November 13th. ATB Capital lowered their target price on shares of Northland Power from C$26.00 to C$23.00 in a research note on Friday, November 21st. Finally, National Bankshares dropped their target price on Northland Power from C$27.00 to C$25.00 in a report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$23.39.

Northland Power Trading Down 2.9%

The stock has a market capitalization of C$4.25 billion, a price-to-earnings ratio of -14.90, a PEG ratio of 0.71 and a beta of 0.87. 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 business has a 50-day moving average of C$23.18 and a 200-day moving average of C$22.36.

Northland Power (TSE:NPI) last released its quarterly earnings results on Thursday, November 13th. The solar energy provider reported C($1.58) EPS for the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.The firm had revenue of C$559.39 million for the quarter.

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.