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 two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Analysts Set New Price Targets

NPI has been the subject of several recent research reports. TD Securities boosted their price target on shares of Northland Power from C$21.00 to C$23.00 and gave the stock a “hold” rating in a research note on Friday, February 27th. ATB Cormark Capital Markets lowered their target price on Northland Power from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research note on Tuesday, December 23rd. Canadian Imperial Bank of Commerce increased their target price on Northland Power from C$22.00 to C$23.00 in a report on Wednesday, December 17th. National Bank Financial reduced their price target on Northland Power from C$27.00 to C$25.00 in a research report on Friday, November 21st. Finally, BMO Capital Markets decreased their price target on Northland Power from C$25.00 to C$23.00 in a research note 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$23.63.

Northland Power Price Performance

The firm has a market cap of C$5.80 billion, a PE ratio of -34.14, a price-to-earnings-growth ratio of 0.71 and a beta of 1.09. The company has a debt-to-equity ratio of 176.80, a current ratio of 1.07 and a quick ratio of 1.23. The firm has a 50-day simple moving average of C$19.83 and a 200 day simple moving average of C$20.74.

Northland Power (TSE:NPI) last released its earnings results on Wednesday, February 25th. The solar energy provider reported C$0.93 earnings per share for the quarter. The firm had revenue of C$725.26 million for the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%.

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.