Northland Power (TSE:NPI) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Northland Power Inc. (TSE:NPI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.74 and traded as high as C$22.22. Northland Power shares last traded at C$22.19, with a volume of 659,367 shares.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NPI. BMO Capital Markets lowered their price objective on Northland Power from C$25.00 to C$23.00 in a research note on Friday, November 21st. National Bank Financial cut their target price on shares of Northland Power from C$27.00 to C$25.00 in a research report on Friday, November 21st. Raymond James Financial reduced their target price on shares of Northland Power from C$25.00 to C$23.00 in a research note on Monday, November 24th. ATB Cormark Capital Markets lowered 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 research report on Tuesday, December 23rd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$23.63.

Northland Power Stock Up 2.0%

The stock’s fifty day moving average price is C$19.83 and its 200 day moving average price is C$20.74. The stock has a market cap of C$5.80 billion, a P/E ratio of -34.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The company has a current ratio of 1.07, a quick ratio of 1.23 and a debt-to-equity ratio of 176.80.

Northland Power (TSE:NPI) last released its earnings results on Wednesday, February 25th. The solar energy provider reported C$0.93 EPS for the quarter. Northland Power had a negative return on equity of 3.92% and a negative net margin of 6.69%.The business had revenue of C$725.26 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. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.