Northland Power (TSE:NPI) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Northland Power Inc. (TSE:NPI) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$21.33 and traded as low as C$19.06. Northland Power shares last traded at C$19.13, with a volume of 914,862 shares traded.

Wall Street Analysts Forecast Growth

NPI has been the subject of several recent analyst reports. Raymond James Financial dropped their price objective on shares of Northland Power from C$25.00 to C$23.00 in a research note on Monday, November 24th. BMO Capital Markets lowered their target price on shares of Northland Power from C$25.00 to C$23.00 in a report on Friday, November 21st. Scotiabank dropped their price target on shares of Northland Power from C$24.00 to C$23.00 in a research note on Friday, November 21st. ATB Capital cut their price target on shares of Northland Power from C$23.00 to C$22.00 and set an “outperform” rating on the stock in a report on Tuesday, December 23rd. Finally, CIBC raised their price objective on shares of Northland Power from C$22.00 to C$23.00 in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$23.17.

Northland Power Trading Down 0.8%

The stock’s 50-day moving average price is C$17.81 and its 200 day moving average price is C$21.33. 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 has a market capitalization of C$5.00 billion, a PE ratio of -17.55, a price-to-earnings-growth ratio of 0.71 and a beta of 0.81.

Northland Power (TSE:NPI) last announced its quarterly earnings data on Thursday, November 13th. The solar energy provider reported C($1.58) earnings per share (EPS) for the quarter. The firm had revenue of C$554.48 million during the quarter. Northland Power had a negative return on equity of 3.37% and a negative net margin of 5.92%.

Insider Activity at Northland Power

In other news, insider Christine Healy purchased 30,000 shares of the business’s stock in a transaction dated Thursday, November 27th. The shares were purchased at an average price of C$16.71 per share, for a total transaction of C$501,300.00. Following the completion of the purchase, the insider owned 30,000 shares in the company, valued at approximately C$501,300. This represents a ∞ increase in their position. Insiders acquired a total of 33,425 shares of company stock worth $545,461 in the last 90 days. Company insiders own 0.09% of the company’s stock.

About Northland Power

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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.