Northland Power (OTCMKTS:NPIFF) Shares Gap Up on Strong Earnings

Northland Power, Inc. (OTCMKTS:NPIFF)’s stock price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $15.8980, but opened at $16.50. Northland Power shares last traded at $16.72, with a volume of 1,275 shares changing hands.

The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.44. Northland Power had a negative net margin of 5.60% and a positive return on equity of 10.29%. The business had revenue of $397.06 million for the quarter, compared to analyst estimates of $382.32 million.

Analysts Set New Price Targets

Separately, TD Securities upgraded Northland Power from a “hold” rating to a “buy” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Northland Power Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.32. The company has a 50 day simple moving average of $15.68 and a 200 day simple moving average of $15.80. The stock has a market cap of $4.40 billion, a P/E ratio of -41.02 and a beta of 0.10.

About Northland Power

Northland Power is a Canadian power producer that develops, owns and operates electricity-generation and energy-storage facilities. Its portfolio includes offshore and onshore wind, solar, natural gas and battery storage projects. Founded in 1987 and headquartered in Toronto, the company has expanded beyond Canada into international markets, including Europe and the Asia-Pacific region. Its activities span the development and construction of energy projects as well as the operation of facilities that supply electricity to power markets and customers.