Northland Power (TSE:NPI) Stock Price Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Northland Power shares fell below their 200-day moving average of C$22.35, reaching C$22.21 before closing at C$22.47 on trading volume of 643,865 shares.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a C$24.90 target price. TD upgraded the stock to “Buy” and “Strong Buy,” while ATB Cormark raised its target to C$28.00.
• The company reported a quarterly loss of C$0.24 per share on C$512.21 million in revenue, alongside a negative 3.46% return on equity and a negative 5.48% net margin.

Northland Power Inc. (TSE:NPI - Get Free Report) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$22.35 and traded as low as C$22.21. Northland Power shares last traded at C$22.47, with a volume of 643,865 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NPI shares. TD raised shares of Northland Power from a "hold" rating to a "buy" rating and set a C$25.00 price objective for the company in a research note on Friday, August 14th. ATB Cormark Capital Markets increased their target price on Northland Power from C$27.00 to C$28.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. TD Securities upgraded Northland Power from a "hold" rating to a "strong-buy" rating in a report on Friday, August 14th. Finally, Desjardins reduced their price target on Northland Power from C$23.00 to C$22.00 and set a "hold" rating for the company in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Northland Power presently has an average rating of "Moderate Buy" and a consensus target price of C$24.90.

Northland Power Price Performance

The firm has a market cap of C$5.88 billion, a PE ratio of -40.12, a price-to-earnings-growth ratio of 0.71 and a beta of 0.59. The company has a quick ratio of 1.23, a current ratio of 1.04 and a debt-to-equity ratio of 164.38. The stock has a 50 day moving average price of C$21.52 and a two-hundred day moving average price of C$22.35.

Northland Power (TSE:NPI - Get Free Report) last released its earnings results on Thursday, August 13th. The solar energy provider reported C($0.24) earnings per share for the quarter. The company had revenue of C$512.21 million for the quarter. Northland Power had a negative return on equity of 3.46% and a negative net margin of 5.48%.

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.

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