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

Northland Power Inc. (TSE:NPI) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$20.75 and traded as high as C$23.58. Northland Power shares last traded at C$23.16, with a volume of 1,583,318 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NPI shares. TD Securities raised their price target on shares of Northland Power from C$21.00 to C$23.00 and gave the company a “hold” rating in a report on Friday, February 27th. ATB Cormark Capital Markets cut their price objective 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, Canadian Imperial Bank of Commerce upped their price objective on shares of Northland Power from C$24.00 to C$26.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$24.00.

Northland Power Stock Performance

The company has a market capitalization of C$6.08 billion, a price-to-earnings ratio of -35.78, 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. The stock has a 50-day simple moving average of C$20.38 and a 200-day simple moving average of C$20.77.

Northland Power (TSE:NPI) last released its quarterly earnings results on Thursday, February 26th. The solar energy provider reported C$0.93 earnings per share for the quarter. The business had revenue of C$725.26 million during the quarter. Northland Power had a negative net margin of 6.69% and a negative return on equity of 3.92%.

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.