Ormat Technologies, Inc. (NYSE:ORA) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts have given Ormat Technologies, Inc. a rating of "Moderate Buy", with a consensus twelve-month price target of $99.30.
• The company recently reported earnings of $0.48 per share, exceeding analyst expectations and achieving a 9.9% revenue growth year-over-year.
• CEO Doron Blachar and CFO Assi Ginzburg recently sold shares, indicating a 29.74% and 27.62% decrease in their positions, respectively, amid significant insider trading activities.

Shares of Ormat Technologies, Inc. (NYSE:ORA - Get Free Report) have been given an average rating of "Moderate Buy" by the thirteen brokerages that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $99.30.

ORA has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on Ormat Technologies from $88.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 16th. Baird R W upgraded Ormat Technologies from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 30th. UBS Group lifted their target price on Ormat Technologies from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Oppenheimer reissued an "outperform" rating and set a $100.00 target price on shares of Ormat Technologies in a research report on Friday, August 8th. Finally, Piper Sandler raised shares of Ormat Technologies from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $90.00 to $102.00 in a report on Wednesday, September 17th.

Ormat Technologies Price Performance

Ormat Technologies stock opened at $104.45 on Friday. The stock has a market capitalization of $6.34 billion, a P/E ratio of 48.58, a price-to-earnings-growth ratio of 4.70 and a beta of 0.69. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.64 and a current ratio of 0.70. Ormat Technologies has a 52 week low of $61.58 and a 52 week high of $111.08. The stock has a fifty day moving average of $96.88 and a 200-day moving average of $85.49.

Ormat Technologies (NYSE:ORA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The energy company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.11. The company had revenue of $234.02 million for the quarter, compared to analyst estimates of $225.26 million. Ormat Technologies had a net margin of 14.49% and a return on equity of 5.47%. The firm's revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.37 EPS. On average, sell-side analysts expect that Ormat Technologies will post 1.94 earnings per share for the current fiscal year.

Ormat Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were paid a $0.12 dividend. The ex-dividend date was Wednesday, August 20th. This represents a $0.48 annualized dividend and a dividend yield of 0.5%. Ormat Technologies's payout ratio is presently 22.33%.

Insider Activity

In related news, CEO Doron Blachar sold 14,994 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $94.71, for a total transaction of $1,420,081.74. Following the sale, the chief executive officer owned 35,419 shares of the company's stock, valued at approximately $3,354,533.49. This represents a 29.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Assi Ginzburg sold 9,343 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $93.31, for a total transaction of $871,795.33. Following the completion of the transaction, the chief financial officer owned 24,482 shares of the company's stock, valued at $2,284,415.42. This trade represents a 27.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,926 shares of company stock valued at $3,861,296. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ormat Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of ORA. Curio Wealth LLC increased its position in shares of Ormat Technologies by 29,200.0% during the 2nd quarter. Curio Wealth LLC now owns 293 shares of the energy company's stock valued at $25,000 after purchasing an additional 292 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Ormat Technologies by 251.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 523 shares of the energy company's stock worth $44,000 after buying an additional 374 shares during the period. GAMMA Investing LLC increased its position in Ormat Technologies by 57.4% during the 2nd quarter. GAMMA Investing LLC now owns 886 shares of the energy company's stock valued at $74,000 after purchasing an additional 323 shares during the period. CWM LLC increased its position in shares of Ormat Technologies by 294.2% during the first quarter. CWM LLC now owns 887 shares of the energy company's stock valued at $63,000 after buying an additional 662 shares during the period. Finally, Signaturefd LLC raised its position in shares of Ormat Technologies by 60.6% in the 1st quarter. Signaturefd LLC now owns 890 shares of the energy company's stock worth $63,000 after acquiring an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

About Ormat Technologies

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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