Northland Power Inc. (OTCMKTS:NPIFF) Sees Large Decline in Short Interest


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Northland Power Inc. (OTCMKTS:NPIFF) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 726,600 shares, a decline of 35.5% from the March 15th total of 1,126,400 shares. Based on an average daily volume of 20,200 shares, the days-to-cover ratio is presently 36.0 days.

Northland Power stock traded up $0.06 during mid-day trading on Friday, reaching $34.98. 11,501 shares of the company traded hands, compared to its average volume of 9,547. Northland Power has a fifty-two week low of $19.98 and a fifty-two week high of $41.06. The firm’s fifty day moving average is $35.20 and its two-hundred day moving average is $35.02.

NPIFF has been the subject of several recent analyst reports. CIBC reiterated a “neutral” rating on shares of Northland Power in a research note on Tuesday, March 16th. Scotia Howard Weill reiterated an “outperform” rating on shares of Northland Power in a research note on Thursday, January 21st. Credit Suisse Group upgraded shares of Northland Power from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 20th. Royal Bank of Canada reiterated a “sector perform” rating on shares of Northland Power in a research note on Wednesday, February 24th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Northland Power in a research note on Friday, February 5th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Northland Power has an average rating of “Buy” and an average price target of $52.00.

About Northland Power

Northland Power Inc, an independent power producer, develops, builds, owns, and operates clean and green power projects in North America, Europe, Latin America, and Asia. The company produces electricity from renewable resources, such as wind, solar, or hydro power, as well as clean burning natural gas and biomass for sale under power purchase agreements and other revenue arrangements.

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