I have been on this board for a long time and can see that from all the posts. Yet during that time, the stock has dropped as have analyst estimates from $50 to $40.
The company is doing well. They added more projects to the pipeline last year and is ready to take advantage of 15-40% tax credits. Large solar project portfolio in Alberta, maybe even the largest in Canada. I like the renewed focus on Canadian stories, more to come.
Various views exist on why the stock doubled 2019-2020 and may have wetted the appetite of investors. But it is more complex than picking one reason.
On the other side of the card, the stock price decline has various explanations, interest rates, supply chain inflation, etc. But the drop to $33 is too exaggerated in my opinion. At first glance, it may appear like the company is losing money or some other troubles exist. Nothing further from the truth.
I like the word "recalibration" for stock prices, from the highs in early 2020. A rising stock price creates its own demand. The opposite is true going down to oversold conditions.
Investor thoughts turn to whether Northland is ready to move up. The headwinds are less now than even a year ago. I believe that a rising tide raises all ships and this starts with sector rotation back into renewables.
Brookfield Renewables moving up for example. Both Northland and Brookfield were highly touted by Motley Fool for many months. I don't think they mentioned the generous tax credits available to Northland and the significant impact they could have on the bottom line; or play a vital role in the decision to go ahead with new projects. Give a 40% tax credit, it makes for a stronger business case.