Ormat Technologies (NYSE:ORA - Get Free Report) had its price target raised by equities researchers at TD Cowen from $70.00 to $76.00 in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has a "hold" rating on the energy company's stock. TD Cowen's target price suggests a potential upside of 8.17% from the company's previous close.
A number of other equities research analysts also recently commented on ORA. Barclays reduced their target price on Ormat Technologies from $82.00 to $75.00 and set an "equal weight" rating on the stock in a research report on Monday, February 5th. Oppenheimer lowered their target price on shares of Ormat Technologies from $84.00 to $83.00 and set an "outperform" rating for the company in a research note on Friday, January 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $82.00.
View Our Latest Stock Analysis on Ormat Technologies
Ormat Technologies Price Performance
Shares of Ormat Technologies stock traded up $1.33 on Friday, hitting $70.26. The company's stock had a trading volume of 358,905 shares, compared to its average volume of 560,302. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 3.07 and a beta of 0.48. Ormat Technologies has a 1 year low of $58.73 and a 1 year high of $88.26. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.20. The firm has a fifty day moving average price of $65.24 and a 200-day moving average price of $66.95.
Ormat Technologies (NYSE:ORA - Get Free Report) last announced its earnings results on Wednesday, February 21st. The energy company reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The business had revenue of $241.30 million during the quarter, compared to analysts' expectations of $239.71 million. Ormat Technologies had a return on equity of 5.09% and a net margin of 15.00%. The business's revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 earnings per share. As a group, sell-side analysts anticipate that Ormat Technologies will post 2.2 earnings per share for the current fiscal year.
Insider Activity at Ormat Technologies
In other Ormat Technologies news, Director Stanley Stern sold 1,825 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $66.95, for a total value of $122,183.75. Following the sale, the director now directly owns 4,835 shares of the company's stock, valued at approximately $323,703.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Ormat Technologies
A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in Ormat Technologies during the fourth quarter worth $32,000. Manchester Capital Management LLC boosted its position in shares of Ormat Technologies by 593.0% in the 4th quarter. Manchester Capital Management LLC now owns 797 shares of the energy company's stock worth $60,000 after buying an additional 682 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Ormat Technologies by 50.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,540 shares of the energy company's stock valued at $117,000 after acquiring an additional 514 shares during the last quarter. PFG Investments LLC acquired a new stake in Ormat Technologies during the 1st quarter valued at $202,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in Ormat Technologies during the third quarter worth $204,000. Hedge funds and other institutional investors own 95.49% of the company's stock.
About Ormat Technologies
(
Get Free Report)
Ormat Technologies, Inc engages in the geothermal and recovered energy power business in the United States, Indonesia, Kenya, Turkey, Chile, Guatemala, Guadeloupe, New Zealand, Honduras, and internationally. It operates in three segments: Electricity, Product, and Energy Storage. The Electricity segment develops, builds, owns, and operates geothermal, solar photovoltaic, and recovered energy-based power plants; and sells electricity.
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